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...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
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Undisclosed income computation u/s 158-BB for search assessment cases. Assessing officer can consider materials found during search and other available information relatable to such evidence. Assessment based on search results and post-search enquiries. Assessee's arguments on lack of opportunity and non-consideration of employee affidavits rejected. Recovery of documents like correspondence, maps, stock positions, and truck loads from assessee's premises indicated undisclosed income from liquor business run through employees and benami companies despite licenses not in assessee's name. Cross-examination of persons whose statements were relied upon afforded to assessee. Rent agreement signed by assessee as contractor further supported findings. Tribunal upheld reassessment of undisclosed income earned through ghost/benami companies. Decided against assessee.
Undisclosed income computation u/s 158-BB for search assessment cases. Assessing officer can consider materials found during search and other available information relatable to such evidence. Assessment based on search results and post-search enquiries. Assessee's arguments on lack of opportunity and non-consideration of employee affidavits rejected. Recovery of documents like correspondence, maps, stock positions, and truck loads from assessee's premises indicated undisclosed income from liquor business run through employees and benami companies despite licenses not in assessee's name. Cross-examination of persons whose statements were relied upon afforded to assessee. Rent agreement signed by assessee as contractor further supported findings. Tribunal upheld reassessment of undisclosed income earned through ghost/benami companies. Decided against assessee.
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