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...
The assessee was entitled to follow the 'project completion method' consistently for recognizing revenue, as it had not achieved the minimum threshold for applying the 'percentage completion method'. The commission/brokerage expenses were allowable in the year incurred, and differences between sales shown in GST returns and Income Tax Returns were justified due to different statutory requirements. The ITAT remanded the issues of disallowance of architect and professional fees, and disallowance u/s 40(a)(ia) for transportation charges, to the Assessing Officer for fresh adjudication after providing reasonable opportunity to the assessee to substantiate claims with relevant documents. The ITAT's decision upheld the assessee's consistent accounting method, allowed commission/brokerage expenses, and directed reconsideration of specific disallowances, ensuring fair adjudication based on substantive evidence and legal principles.
The assessee was entitled to follow the 'project completion method' consistently for recognizing revenue, as it had not achieved the minimum threshold for applying the 'percentage completion method'. The commission/brokerage expenses were allowable in the year incurred, and differences between sales shown in GST returns and Income Tax Returns were justified due to different statutory requirements. The ITAT remanded the issues of disallowance of architect and professional fees, and disallowance u/s 40(a)(ia) for transportation charges, to the Assessing Officer for fresh adjudication after providing reasonable opportunity to the assessee to substantiate claims with relevant documents. The ITAT's decision upheld the assessee's consistent accounting method, allowed commission/brokerage expenses, and directed reconsideration of specific disallowances, ensuring fair adjudication based on substantive evidence and legal principles.
Note: It is a system-generated summary and is for quick reference only.