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...
Entitlement to cost of improvement and consequent indexed cost of improvement - The assessee’s wife who was holding 50% title on the said land, has not been allowed cost of improvement or indexed cost of improvement by the AO and no further appeal or any other proceedings have been initiated by her accepting the rejection of claim by the AO. No hesitation to hold that the assessee is not entitled for any cost of improvement and consequent indexed cost of improvement. - AT
Entitlement to cost of improvement and consequent indexed cost of improvement - The assessee’s wife who was holding 50% title on the said land, has not been allowed cost of improvement or indexed cost of improvement by the AO and no further appeal or any other proceedings have been initiated by her accepting the rejection of claim by the AO. No hesitation to hold that the assessee is not entitled for any cost of improvement and consequent indexed cost of improvement. - AT
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