Promissory note presumption of consideration survives blank-signature and income-tax non-disclosure objections when admissions and attesting evidence ...
Charitable registration cancellation: limitation and jurisdiction upheld, but withdrawal quashed under discontinued provisions for skill-development e...
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ITAT held that where the payee has declared the receipts and discharged tax liability, the payer cannot be treated as an assessee in default under s.201/201(1A); the AO must first ascertain default before invoking disallowance. Applying this principle, the Tribunal found the taxpayer's contract involved a 4% supervision margin payable to the contractor for construction of an institutional facility and, given the charitable context and non-commencement of the project, afforded the assessee the benefit of doubt. The AO was directed to treat only the 4% margin as fees chargeable under s.194J. Other administrative and allied payments were sustained. Grounds were accordingly partly allowed.
ITAT held that where the payee has declared the receipts and discharged tax liability, the payer cannot be treated as an assessee in default under s.201/201(1A); the AO must first ascertain default before invoking disallowance. Applying this principle, the Tribunal found the taxpayer's contract involved a 4% supervision margin payable to the contractor for construction of an institutional facility and, given the charitable context and non-commencement of the project, afforded the assessee the benefit of doubt. The AO was directed to treat only the 4% margin as fees chargeable under s.194J. Other administrative and allied payments were sustained. Grounds were accordingly partly allowed.
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