Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Interest claimed on unsecured loans admitted to be bogus accommodation entries is treated as non-deductible as a consequential matter. The tax deducted at source component of such interest must be excluded from the disallowance. Estimated commission additions for obtaining accommodation entries require corroborative evidence of payment or a reliable basis for estimation; a presumption alone is insufficient. Accordingly, the interest disallowance is retained after excluding tax deducted at source, while the commission additions are deleted.
Interest claimed on unsecured loans admitted to be bogus accommodation entries is treated as non-deductible as a consequential matter. The tax deducted at source component of such interest must be excluded from the disallowance. Estimated commission additions for obtaining accommodation entries require corroborative evidence of payment or a reliable basis for estimation; a presumption alone is insufficient. Accordingly, the interest disallowance is retained after excluding tax deducted at source, while the commission additions are deleted.
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