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...
The Appellate Tribunal held that the definition of 'proceeds of crime' encompasses not only the property derived or obtained directly or indirectly from criminal activity, but also any other property of equivalent value when the original proceeds are unavailable. The Adjudicating Authority's narrow interpretation of the definition was incorrect. The Tribunal set aside the Adjudicating Authority's order and remanded the case for fresh consideration within the statutory period, with parties to remain present on 10.12.2024. The appeal was allowed.
The Appellate Tribunal held that the definition of 'proceeds of crime' encompasses not only the property derived or obtained directly or indirectly from criminal activity, but also any other property of equivalent value when the original proceeds are unavailable. The Adjudicating Authority's narrow interpretation of the definition was incorrect. The Tribunal set aside the Adjudicating Authority's order and remanded the case for fresh consideration within the statutory period, with parties to remain present on 10.12.2024. The appeal was allowed.
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