Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Disallowance of interest on interest-free loans was rejected as the assessee had utilized meager amounts from surplus funds for non-business purposes. Regarding bogus share capital issue, the ITAT upheld disallowance as the assessee failed to prove the capacity and source of investments by shareholders who had meager income. Conditional benefit was granted to the assessee to submit details of share allotment by respective investors showing source as share application money pending allotment. The appeal was partly allowed.
Disallowance of interest on interest-free loans was rejected as the assessee had utilized meager amounts from surplus funds for non-business purposes. Regarding bogus share capital issue, the ITAT upheld disallowance as the assessee failed to prove the capacity and source of investments by shareholders who had meager income. Conditional benefit was granted to the assessee to submit details of share allotment by respective investors showing source as share application money pending allotment. The appeal was partly allowed.
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