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...
ITAT upheld disallowance of interest payments under s.40(a)(ia) due to non-deduction of TDS on payments made to NBFCs. Appellant's contention that NBFCs were considered banks was rejected, as ignorance of law is not a valid defense. The tribunal noted appellant's failure to submit Form 27BA certification regarding payments and statutory deductions. Additionally, lump sum expense disallowances were sustained due to assessee's inability to maintain proper records or provide evidence of business purpose for vehicle and telephone expenses. The tribunal also confirmed penalty under s.271AAB(1)(c), finding no grounds for interference with the penalty order following dismissal of quantum assessment appeal.
ITAT upheld disallowance of interest payments under s.40(a)(ia) due to non-deduction of TDS on payments made to NBFCs. Appellant's contention that NBFCs were considered banks was rejected, as ignorance of law is not a valid defense. The tribunal noted appellant's failure to submit Form 27BA certification regarding payments and statutory deductions. Additionally, lump sum expense disallowances were sustained due to assessee's inability to maintain proper records or provide evidence of business purpose for vehicle and telephone expenses. The tribunal also confirmed penalty under s.271AAB(1)(c), finding no grounds for interference with the penalty order following dismissal of quantum assessment appeal.
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