Bogus-purchase additions are limited to embedded profit where corresponding sales are accepted, while accommodation-entry information can support reas...
Provisional attachment fails without material showing likely concealment, transfer, or dealing that could frustrate confiscation of mortgaged property...
Works-contract goods transfers remain outside service tax, while qualifying lift irrigation works receive exemption and extended limitation cannot app...
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Year-end estimated expenditure provisions, where invoices, precise liabilities and payees remain unascertained, do not amount to credit of an ascertainable sum to an identified payee under the mercantile system. Tax-deduction obligations therefore arise only when liabilities crystallise, with tax deducted where applicable upon receipt of invoices; reversal of the provisions in the succeeding year supports that treatment. A demand for tax-deduction default cannot be sustained merely on creation of such provisions. Further, where the same non-deduction has already led to disallowance of expenditure, it cannot also support a tax-deduction default demand; consequential interest fails with the principal demand.
Year-end estimated expenditure provisions, where invoices, precise liabilities and payees remain unascertained, do not amount to credit of an ascertainable sum to an identified payee under the mercantile system. Tax-deduction obligations therefore arise only when liabilities crystallise, with tax deducted where applicable upon receipt of invoices; reversal of the provisions in the succeeding year supports that treatment. A demand for tax-deduction default cannot be sustained merely on creation of such provisions. Further, where the same non-deduction has already led to disallowance of expenditure, it cannot also support a tax-deduction default demand; consequential interest fails with the principal demand.
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