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...
Liability of interest - If an assessee fails to file correct returns and furnish required documents, the interest of the revenue cannot compromised. An assessee/dealer cannot take advantage of the lapses committed at a later point of time if subsequently it is found that the turn-over had escaped resulting in evasion of tax by such an assessee/dealer. - If there is a failure to tax in time, the dealers are required to pay interest as payment of Interest is consequential. - HC
Liability of interest - If an assessee fails to file correct returns and furnish required documents, the interest of the revenue cannot compromised. An assessee/dealer cannot take advantage of the lapses committed at a later point of time if subsequently it is found that the turn-over had escaped resulting in evasion of tax by such an assessee/dealer. - If there is a failure to tax in time, the dealers are required to pay interest as payment of Interest is consequential. - HC
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