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...
Addition of unexplained share application money u/s 68 - Apart from furnishing the financial statement, bank statements and ITRs assessee could not produce any of the Principal Officer of the investor company - Genuineness of the transactions and also the creditworthiness of both the share applicants has not proved as they have no regular means to invest - addition justified
Addition of unexplained share application money u/s 68 - Apart from furnishing the financial statement, bank statements and ITRs assessee could not produce any of the Principal Officer of the investor company - Genuineness of the transactions and also the creditworthiness of both the share applicants has not proved as they have no regular means to invest - addition justified
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