Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
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Donations to a registered political party were examined for eligibility for deduction under deduction for political donations after verification showed the party failed to file contribution reports under the Representation of the People Act and did not meet political party exemption compliance. The tribunal accepted factual findings that the party repeatedly claimed improper income-tax exemptions and that contribution-reporting lapses and contemporaneous statements indicated a scheme where cheque donations were returned in cash. Consequently, the donation was treated as bogus and not allowable as a deduction for the donor, and the donor's appeal against disallowance was dismissed.
Donations to a registered political party were examined for eligibility for deduction under deduction for political donations after verification showed the party failed to file contribution reports under the Representation of the People Act and did not meet political party exemption compliance. The tribunal accepted factual findings that the party repeatedly claimed improper income-tax exemptions and that contribution-reporting lapses and contemporaneous statements indicated a scheme where cheque donations were returned in cash. Consequently, the donation was treated as bogus and not allowable as a deduction for the donor, and the donor's appeal against disallowance was dismissed.
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