Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Short payment of GST on unreconciled sales turnover - non-reversal of Input Tax Credit (ITC) - The assessing officer rejected the petitioner's explanation, citing lethargy in maintaining accounts. However, the High Court found that even if the petitioner was lax in rectifying the mistake promptly, it didn't justify the substantial tax liability imposed solely based on a reporting error. The Court noted that the statute didn't allow rectification until the annual return was filed, and therefore, the petitioner's actions were within legal bounds.
Short payment of GST on unreconciled sales turnover - non-reversal of Input Tax Credit (ITC) - The assessing officer rejected the petitioner's explanation, citing lethargy in maintaining accounts. However, the High Court found that even if the petitioner was lax in rectifying the mistake promptly, it didn't justify the substantial tax liability imposed solely based on a reporting error. The Court noted that the statute didn't allow rectification until the annual return was filed, and therefore, the petitioner's actions were within legal bounds.
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