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 u/s 14A read with Rule 8D - Assessing Officer did not record objective satisfaction for not accepting suo moto disallowance made by assessee. ITAT directed Assessing Officer to accept suo moto disallowance made u/r 8D(2)(iii) read with Section 14A. Only investments not yielding exempt income should be considered for disallowance u/s 14A read with Rule 8D. Deduction u/s 80G for donations - Deduction allowable for sums paid as donation. Donations to specific Kosh and Fund not allowable u/s 80G(2)(a)(iiihk) and (iiihl). Amounts spent on CSR activities u/s 135 of Companies Act 2013 not allowable as deduction u/s 80G. Disallowance for deduction u/s 80G vis-a-vis CSR restricted to contributions to these Funds under CSR. No error in allowing deduction claimed u/s 80G, except for contributions to these two funds.
Disallowance u/s 14A read with Rule 8D - Assessing Officer did not record objective satisfaction for not accepting suo moto disallowance made by assessee. ITAT directed Assessing Officer to accept suo moto disallowance made u/r 8D(2)(iii) read with Section 14A. Only investments not yielding exempt income should be considered for disallowance u/s 14A read with Rule 8D. Deduction u/s 80G for donations - Deduction allowable for sums paid as donation. Donations to specific Kosh and Fund not allowable u/s 80G(2)(a)(iiihk) and (iiihl). Amounts spent on CSR activities u/s 135 of Companies Act 2013 not allowable as deduction u/s 80G. Disallowance for deduction u/s 80G vis-a-vis CSR restricted to contributions to these Funds under CSR. No error in allowing deduction claimed u/s 80G, except for contributions to these two funds.
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