Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
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Expenses related to the foreign travels of the family members of the directors - business expediency - As the assessee may stand to derive some business benefit from such social intercourse and, further considering that the son/s has joined business subsequently, indicating a business purpose as well, we consider it proper to restrict the disallowance to 40% of the impugned expenditure, i.e. qua TA and conveyance - AT
Expenses related to the foreign travels of the family members of the directors - business expediency - As the assessee may stand to derive some business benefit from such social intercourse and, further considering that the son/s has joined business subsequently, indicating a business purpose as well, we consider it proper to restrict the disallowance to 40% of the impugned expenditure, i.e. qua TA and conveyance - AT
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