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 held that no disallowance can be made in respect of expenditure not claimed by the assessee. As the assessee asserted that no expenditure for the period post 25.03.2017 was debited or claimed, the issue of pro-rata allocation of expenses relating to the slump sale period 25.03.2017 to 31.03.2017 was remanded to the AO for factual verification of both entities' books and audited financials and for fresh adjudication after due hearing. On employees' contribution to PF, ITAT held that payment made on the next working day when the due date fell on a Sunday is deemed timely; the related disallowance was deleted. Disallowances of software expenditure and consultancy fees were confirmed as revenue in nature allowable u/s 37(1), and the Revenue's grounds were rejected.
ITAT held that no disallowance can be made in respect of expenditure not claimed by the assessee. As the assessee asserted that no expenditure for the period post 25.03.2017 was debited or claimed, the issue of pro-rata allocation of expenses relating to the slump sale period 25.03.2017 to 31.03.2017 was remanded to the AO for factual verification of both entities' books and audited financials and for fresh adjudication after due hearing. On employees' contribution to PF, ITAT held that payment made on the next working day when the due date fell on a Sunday is deemed timely; the related disallowance was deleted. Disallowances of software expenditure and consultancy fees were confirmed as revenue in nature allowable u/s 37(1), and the Revenue's grounds were rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
