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...
ITAT allows assessee's appeals, directing AO to delete multiple additions to income. The tribunal found no merit in additions related to flat purchase, advances, and unexplained investments. Specifically, the court determined that the AO made additions without establishing clear factual basis, incorrectly invoked statutory provisions, and estimated undisclosed income without cogent supporting material. The matter is partially remanded for fresh assessment, with the AO directed to verify facts, provide opportunity to the assessee, and charge correct income. The assessee is instructed to remain cooperative during proceedings and not seek frivolous adjournments.
ITAT allows assessee's appeals, directing AO to delete multiple additions to income. The tribunal found no merit in additions related to flat purchase, advances, and unexplained investments. Specifically, the court determined that the AO made additions without establishing clear factual basis, incorrectly invoked statutory provisions, and estimated undisclosed income without cogent supporting material. The matter is partially remanded for fresh assessment, with the AO directed to verify facts, provide opportunity to the assessee, and charge correct income. The assessee is instructed to remain cooperative during proceedings and not seek frivolous adjournments.
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