Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Commission expenditure supported by the recipient's tax and GST records, TDS details and bank-payment evidence cannot be disallowed solely because the recipient does not comply with a departmental notice, absent proof that the evidence is false, the identity is fictitious or funds returned to the payer. Primary evidence of a creditor's identity, creditworthiness and transaction genuineness shifts the burden to the Revenue; unsupported cash-credit additions fail. Business expenditure for customary lorry tips and refreshments may be allowable where commercially plausible, books are not rejected and no payment is shown to be bogus, inflated or non-business, despite absence of formal vouchers.
Commission expenditure supported by the recipient's tax and GST records, TDS details and bank-payment evidence cannot be disallowed solely because the recipient does not comply with a departmental notice, absent proof that the evidence is false, the identity is fictitious or funds returned to the payer. Primary evidence of a creditor's identity, creditworthiness and transaction genuineness shifts the burden to the Revenue; unsupported cash-credit additions fail. Business expenditure for customary lorry tips and refreshments may be allowable where commercially plausible, books are not rejected and no payment is shown to be bogus, inflated or non-business, despite absence of formal vouchers.
Note: It is a system-generated summary and is for quick reference only.
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