Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
The Tribunal upheld deletion of the section 14A disallowance, holding that interest-free surplus funds covered the investments and that administrative disallowance could not exceed the consistent 2% approach followed in earlier years. It also sustained treatment of professional fees as revenue expenditure, finding they supported existing business expansion without creating a capital asset or enduring advantage. The bad debt write-off was allowed because post-amendment section 36(1)(vii) requires only an actual write-off in the accounts. Payment for public relation services was held deductible on proof of commercial expediency and receipt of services. Deduction under section 80IA for the captive incinerator facility was sustained on market-value basis and consistency. Interest under section 234A was left for factual verification of timely filing.
The Tribunal upheld deletion of the section 14A disallowance, holding that interest-free surplus funds covered the investments and that administrative disallowance could not exceed the consistent 2% approach followed in earlier years. It also sustained treatment of professional fees as revenue expenditure, finding they supported existing business expansion without creating a capital asset or enduring advantage. The bad debt write-off was allowed because post-amendment section 36(1)(vii) requires only an actual write-off in the accounts. Payment for public relation services was held deductible on proof of commercial expediency and receipt of services. Deduction under section 80IA for the captive incinerator facility was sustained on market-value basis and consistency. Interest under section 234A was left for factual verification of timely filing.
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