Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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...
CIT(A) restricted addition on account of accommodation entries to 15% instead of 100%, as the Assessing Officer failed to establish that work was not actually performed. The Tribunal concurred with CIT(A)'s disallowance rate of 15% and rejected Revenue's contention to restore 100% disallowance. Regarding commission expenses of INR 8,81,3000/-, the Tribunal upheld CIT(A)'s deletion in the absence of material to substantiate the allegation of 1% commission payment. CIT(A) correctly allowed the claim of deduction u/s 80-IA based on the Assessing Officer's remand report. Concerning disallowance u/s 14A, the Tribunal upheld CIT(A)'s findings as the assessee had suo moto disallowed a higher amount of 1% of average investment as administrative expenses compared to the Assessing Officer's disallowance of 0.5%. The Tribunal dismissed the Revenue's grounds on all issues.
CIT(A) restricted addition on account of accommodation entries to 15% instead of 100%, as the Assessing Officer failed to establish that work was not actually performed. The Tribunal concurred with CIT(A)'s disallowance rate of 15% and rejected Revenue's contention to restore 100% disallowance. Regarding commission expenses of INR 8,81,3000/-, the Tribunal upheld CIT(A)'s deletion in the absence of material to substantiate the allegation of 1% commission payment. CIT(A) correctly allowed the claim of deduction u/s 80-IA based on the Assessing Officer's remand report. Concerning disallowance u/s 14A, the Tribunal upheld CIT(A)'s findings as the assessee had suo moto disallowed a higher amount of 1% of average investment as administrative expenses compared to the Assessing Officer's disallowance of 0.5%. The Tribunal dismissed the Revenue's grounds on all issues.
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