Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Disallowance of salary recharges and expense reimbursements was challenged where revenue relied on absence of detailed employee-wise service records and plain-paper cost-sharing agreements; AO made no finding that payments were excessive or provided no comparison with fair market value or benefit derived. The article explains that section 40A(2) requires formation of an opinion that expenditure is excessive or unreasonable before disallowance, and that under section 37(1) the assessee bears onus to prove business purpose. Absent a finding of excessiveness, mere lack of minute service details does not justify denying the claimed expenditure; the disallowance was held unsustainable and the appeal allowed.
Disallowance of salary recharges and expense reimbursements was challenged where revenue relied on absence of detailed employee-wise service records and plain-paper cost-sharing agreements; AO made no finding that payments were excessive or provided no comparison with fair market value or benefit derived. The article explains that section 40A(2) requires formation of an opinion that expenditure is excessive or unreasonable before disallowance, and that under section 37(1) the assessee bears onus to prove business purpose. Absent a finding of excessiveness, mere lack of minute service details does not justify denying the claimed expenditure; the disallowance was held unsustainable and the appeal allowed.
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