Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The ITAT held that the disallowance under section 43B, based on the tax auditor's report alleging unpaid GST liability, was unsustainable. The assessee had adjusted the GST payable against input tax credit before the due date for filing the return, and the GST was not routed through the profit and loss account. Following precedents, since the liability was neither claimed as a deduction nor debited as an expense, section 43B did not apply. The tribunal found the auditor's report factually incorrect regarding non-payment before the due date. Consequently, the addition made by the CIT(A) was deleted, and the assessee's appeal was allowed.
The ITAT held that the disallowance under section 43B, based on the tax auditor's report alleging unpaid GST liability, was unsustainable. The assessee had adjusted the GST payable against input tax credit before the due date for filing the return, and the GST was not routed through the profit and loss account. Following precedents, since the liability was neither claimed as a deduction nor debited as an expense, section 43B did not apply. The tribunal found the auditor's report factually incorrect regarding non-payment before the due date. Consequently, the addition made by the CIT(A) was deleted, and the assessee's appeal was allowed.
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