Approved gratuity fund provisions remain deductible despite general actual-payment requirements, preventing revision of the allowed gratuity deduction...
Verification of intangible software expenditure and duplicated disallowances requires record-based reassessment before depreciation and income computa...
Cash receipt aggregation requires a single transaction, event or occasion; separate partner capital contributions cannot attract cash-receipt penaltie...
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Input tax credit reversal on stock transfers requires verification of reconciliations, Form WW and Chartered Accountant certification supporting inter-State purchase claims. Annexures supplied in replies, appeal materials and fuller reconciliation may constitute supporting records. A reversal cannot rest on an objection, such as lack of proof of manufacture outside the State, that was absent from the show-cause notices. The input tax credit reversal issue was remanded for fresh verification after hearing the assessee, who may provide additional particulars; merits remained undecided.
Input tax credit reversal on stock transfers requires verification of reconciliations, Form WW and Chartered Accountant certification supporting inter-State purchase claims. Annexures supplied in replies, appeal materials and fuller reconciliation may constitute supporting records. A reversal cannot rest on an objection, such as lack of proof of manufacture outside the State, that was absent from the show-cause notices. The input tax credit reversal issue was remanded for fresh verification after hearing the assessee, who may provide additional particulars; merits remained undecided.
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