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...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Nature of expenditure - revenue or capital expenditure - expenditures towards repairs and renovations of Assessee's hotel properties - Once CIT(A) as well as ITAT, on facts, have held that no new asset was brought into existence or new advantage of enduring nature was obtained. Expenditure should be allowed as revenue expenditure. No substantial question of law arise.
Nature of expenditure - revenue or capital expenditure - expenditures towards repairs and renovations of Assessee's hotel properties - Once CIT(A) as well as ITAT, on facts, have held that no new asset was brought into existence or new advantage of enduring nature was obtained. Expenditure should be allowed as revenue expenditure. No substantial question of law arise.
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