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...
Input tax credit on purchases from a supplier later reported non-existent must be assessed on the totality of evidence. Contemporaneous invoices, transport records, GST records and banking-channel payments require independent verification and cogent rebuttal; a supplier's later non-existence alone does not establish fictitious purchases or non-receipt of goods. Recovery of allegedly wrongful credit under Section 74 requires positive evidence of fraud, wilful misstatement or suppression with intent to evade tax. Non-appearance before authorities or delayed invoice payment followed by proportionate credit reversal with interest does not, by itself, establish those statutory ingredients or justify equal penalty.
Input tax credit on purchases from a supplier later reported non-existent must be assessed on the totality of evidence. Contemporaneous invoices, transport records, GST records and banking-channel payments require independent verification and cogent rebuttal; a supplier's later non-existence alone does not establish fictitious purchases or non-receipt of goods. Recovery of allegedly wrongful credit under Section 74 requires positive evidence of fraud, wilful misstatement or suppression with intent to evade tax. Non-appearance before authorities or delayed invoice payment followed by proportionate credit reversal with interest does not, by itself, establish those statutory ingredients or justify equal penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
