Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
The case pertains to the denial of exemption u/s 11 due to excessive payments made on account of salary and rent to persons specified u/s 13(3). The Assessing Officer (AO) had disallowed the payments made to specified persons. However, upon examination, it was found that the rent paid by the assessee was lower than the prevailing market rates in the same area paid by unrelated parties. The AO had relied on an agreement for a different premise in the same locality, leading to an appreciation of wrong facts. Consequently, the Appellate Tribunal (ITAT) held that the impugned payments were not excessive or unreasonable, deciding the case in favor of the assessee.
The case pertains to the denial of exemption u/s 11 due to excessive payments made on account of salary and rent to persons specified u/s 13(3). The Assessing Officer (AO) had disallowed the payments made to specified persons. However, upon examination, it was found that the rent paid by the assessee was lower than the prevailing market rates in the same area paid by unrelated parties. The AO had relied on an agreement for a different premise in the same locality, leading to an appreciation of wrong facts. Consequently, the Appellate Tribunal (ITAT) held that the impugned payments were not excessive or unreasonable, deciding the case in favor of the assessee.
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