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...
Revision u/s 263 - Additions towards provision for bad and doubtful debts which is not an allowable expenditure - The Tribunal considered the submissions and noted that the assessee had furnished all details during the limited scrutiny. It observed that even if the provision for bad debts was added, it would not affect the total income, which remained NIL after adjusting brought forward losses.
Revision u/s 263 - Additions towards provision for bad and doubtful debts which is not an allowable expenditure - The Tribunal considered the submissions and noted that the assessee had furnished all details during the limited scrutiny. It observed that even if the provision for bad debts was added, it would not affect the total income, which remained NIL after adjusting brought forward losses.
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