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...
Disallowance on account of non- utilisation of loan - @ 14% of loan amount - there is nothing on the record that the assessee has diverted interest bearing borrowed funds by granting interest free loans to sister concern and even The turnover of the assessee was increase @ 17% - it cannot be concluded that the assessee used the working capital for other than business purpose - disallowance deleted
Disallowance on account of non- utilisation of loan - @ 14% of loan amount - there is nothing on the record that the assessee has diverted interest bearing borrowed funds by granting interest free loans to sister concern and even The turnover of the assessee was increase @ 17% - it cannot be concluded that the assessee used the working capital for other than business purpose - disallowance deleted
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