Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Section 68 additions for share capital, share premium and unsecured loans cannot stand where remand enquiries accept subscriber identity, creditworthiness, genuineness, funding explanations and creditor evidence, including subsequent repayment; the additions were deleted. Industrial incentives, including excise-duty exemption, transport, interest and insurance subsidies, and VAT/CST remission, were characterised by their purpose of promoting North-East industrial development rather than trading profits. They were treated as capital receipts and excluded from normal computation; receipts not constituting income were also excluded from book profit, with specified 2013-14 receipts receiving that treatment.
Section 68 additions for share capital, share premium and unsecured loans cannot stand where remand enquiries accept subscriber identity, creditworthiness, genuineness, funding explanations and creditor evidence, including subsequent repayment; the additions were deleted. Industrial incentives, including excise-duty exemption, transport, interest and insurance subsidies, and VAT/CST remission, were characterised by their purpose of promoting North-East industrial development rather than trading profits. They were treated as capital receipts and excluded from normal computation; receipts not constituting income were also excluded from book profit, with specified 2013-14 receipts receiving that treatment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
