Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Assessment of trust expenditure centred on whether claimed expenses demonstrated application of income for charitable purposes; the tribunal accepted documentary evidence (salary registers, salary ledgers, cash book, bank book, payment records and other ledger accounts) and agreed with the CIT(A) that the assessing officer offered no basis to disallow a portion of expenses. The appellate panel found the majority of costs were salary-related and substantiated, noted no infirmity in the remaining ledgers, and dismissed the revenue appeal for lack of contrary evidential foundation.
Assessment of trust expenditure centred on whether claimed expenses demonstrated application of income for charitable purposes; the tribunal accepted documentary evidence (salary registers, salary ledgers, cash book, bank book, payment records and other ledger accounts) and agreed with the CIT(A) that the assessing officer offered no basis to disallow a portion of expenses. The appellate panel found the majority of costs were salary-related and substantiated, noted no infirmity in the remaining ledgers, and dismissed the revenue appeal for lack of contrary evidential foundation.
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