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...
Statutory tax dues arising during CIRP are not extinguished by the clean slate theory on approval of a resolution plan, because the Supreme Court decisions on clean slate concerned pre-CIRP liabilities and did not govern post-commencement dues; the Court also held that extending immunity to such dues would be inconsistent with the IBC scheme and fiscal statutes. Section 238 of the IBC was not read to override State GST liabilities arising during CIRP, and Section 60(5) could not be used to confer on the NCLT jurisdiction to test the merits of tax assessments or other public law disputes under GST or income tax laws. The impugned orders were set aside and remanded for fresh consideration.
Statutory tax dues arising during CIRP are not extinguished by the clean slate theory on approval of a resolution plan, because the Supreme Court decisions on clean slate concerned pre-CIRP liabilities and did not govern post-commencement dues; the Court also held that extending immunity to such dues would be inconsistent with the IBC scheme and fiscal statutes. Section 238 of the IBC was not read to override State GST liabilities arising during CIRP, and Section 60(5) could not be used to confer on the NCLT jurisdiction to test the merits of tax assessments or other public law disputes under GST or income tax laws. The impugned orders were set aside and remanded for fresh consideration.
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