Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Disallowance of sales commission paid to two Associated Enterprises (AEs) being foreign entities - assessee failed to discharge the onus of proving legitimate business requirement and genuineness of payment by submitting relevant documentary proof. CIT(A) deleted the addition without calling for a remand report from the AO, violating Rule 46A. Matter needs to be restored to CIT(A) for adjudicating sales commission again. Sales commission paid to Heubach GMBH - assessee discharged onus, Revenue failed to provide cogent material to disallow, CIT(A)'s order upheld. Sales commission paid to Darlington Enterprises - assessee discharged onus, Revenue failed to provide cogent material to disallow, CIT(A)'s order upheld. Undervaluation of finished/closing stock of Beta Blue - assessee applied weighted average cost method of yearly costs for finished stock and monthly costs for WIP. AS-2 requires fairest approximation of cost incurred. Matter set aside to AO to determine reasons for adopting different methods and allow assessee to justify, after verifying consistent practice and Revenue's acceptance.
Disallowance of sales commission paid to two Associated Enterprises (AEs) being foreign entities - assessee failed to discharge the onus of proving legitimate business requirement and genuineness of payment by submitting relevant documentary proof. CIT(A) deleted the addition without calling for a remand report from the AO, violating Rule 46A. Matter needs to be restored to CIT(A) for adjudicating sales commission again. Sales commission paid to Heubach GMBH - assessee discharged onus, Revenue failed to provide cogent material to disallow, CIT(A)'s order upheld. Sales commission paid to Darlington Enterprises - assessee discharged onus, Revenue failed to provide cogent material to disallow, CIT(A)'s order upheld. Undervaluation of finished/closing stock of Beta Blue - assessee applied weighted average cost method of yearly costs for finished stock and monthly costs for WIP. AS-2 requires fairest approximation of cost incurred. Matter set aside to AO to determine reasons for adopting different methods and allow assessee to justify, after verifying consistent practice and Revenue's acceptance.
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TaxTMI 
TaxTMI 
