Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Disallowance of remuneration to directors and relatives under section 40A(2)(b) was deleted because the Assessing Officer did not benchmark the payment against fair market value and relied instead on an earlier-year comparison and an arbitrary 10% increase, despite accepted past scrutiny assessments and undisputed services. The Tribunal also upheld allowance of foreign travel expenditure, finding no Rule 46A breach where the travel details had already been filed and no evidence showed absence of business purpose. The revenue's appeal was dismissed.
Disallowance of remuneration to directors and relatives under section 40A(2)(b) was deleted because the Assessing Officer did not benchmark the payment against fair market value and relied instead on an earlier-year comparison and an arbitrary 10% increase, despite accepted past scrutiny assessments and undisputed services. The Tribunal also upheld allowance of foreign travel expenditure, finding no Rule 46A breach where the travel details had already been filed and no evidence showed absence of business purpose. The revenue's appeal was dismissed.
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