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...
Assessment u/s 153C - disallowance made u/s 37. Assessing Officer observed no supporting evidence for claimed expenses furnished by assessee and non-cooperation during search and post-search inquiries. Held: Expenses other than accommodation charges under 'Administrative Expenses', 'Business Promotion Expenses' and 'Tour & Travel Expenses' under 'Selling and Distribution Expenses' are routine and acceptable. Salary income received from assessee company offered, disallowance of depreciation and interest on late TDS deposit debited in P&L not justified. Claim of expenses partly acceptable as per CIT(A) decision. No evidence other than ledger accounts for accommodation, promotion, and travel expenses. Reasonable disallowance of Rs. 15 lakhs estimated considering assessee's offered disallowance of Rs. 9 lakhs from total Rs. 42,42,974 expenses. Proceedings u/s 153C upheld based on Nau Nidh Overseas Pvt. Ltd. case. Revenue appeal partly allowed.
Assessment u/s 153C - disallowance made u/s 37. Assessing Officer observed no supporting evidence for claimed expenses furnished by assessee and non-cooperation during search and post-search inquiries. Held: Expenses other than accommodation charges under 'Administrative Expenses', 'Business Promotion Expenses' and 'Tour & Travel Expenses' under 'Selling and Distribution Expenses' are routine and acceptable. Salary income received from assessee company offered, disallowance of depreciation and interest on late TDS deposit debited in P&L not justified. Claim of expenses partly acceptable as per CIT(A) decision. No evidence other than ledger accounts for accommodation, promotion, and travel expenses. Reasonable disallowance of Rs. 15 lakhs estimated considering assessee's offered disallowance of Rs. 9 lakhs from total Rs. 42,42,974 expenses. Proceedings u/s 153C upheld based on Nau Nidh Overseas Pvt. Ltd. case. Revenue appeal partly allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
