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...
Cash can fall within the wide definition of property under the PBPT Act, and where funds are transferred through entities controlled by another person and later routed back, both the transfer and temporary holding may satisfy section 2(9)(A); the routed entities are treated as benamidars and the provider as beneficial owner. Disclosure in an income-tax return or payment of tax does not, by itself, bar PBPT proceedings because the Act operates alongside the Income-tax Act and serves a distinct confiscatory purpose. Where tax has already been paid on the routed amount, the attachable benami property may be reduced to that extent. In a running business, transformed assets such as stock and receivables may remain attachable as converted form of benami property.
Cash can fall within the wide definition of property under the PBPT Act, and where funds are transferred through entities controlled by another person and later routed back, both the transfer and temporary holding may satisfy section 2(9)(A); the routed entities are treated as benamidars and the provider as beneficial owner. Disclosure in an income-tax return or payment of tax does not, by itself, bar PBPT proceedings because the Act operates alongside the Income-tax Act and serves a distinct confiscatory purpose. Where tax has already been paid on the routed amount, the attachable benami property may be reduced to that extent. In a running business, transformed assets such as stock and receivables may remain attachable as converted form of benami property.
Note: It is a system-generated summary and is for quick reference only.
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