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...
Statements recorded under Customs law were treated as admissible in FEMA adjudication where they related to the same transaction; mere retraction did not make them involuntary when they were confirmed before two authorities, no coercion was shown, and the statements were supported by documentary evidence. A Customs settlement granting immunity from penalty and prosecution did not bar separate FEMA action for contravention of foreign exchange law arising from under-invoiced imports and compensatory cash payments. The Tribunal affirmed contravention of FEMA and liability of the individual appellant, but reduced the penalties on proportionality and adjusted the pre-deposit.
Statements recorded under Customs law were treated as admissible in FEMA adjudication where they related to the same transaction; mere retraction did not make them involuntary when they were confirmed before two authorities, no coercion was shown, and the statements were supported by documentary evidence. A Customs settlement granting immunity from penalty and prosecution did not bar separate FEMA action for contravention of foreign exchange law arising from under-invoiced imports and compensatory cash payments. The Tribunal affirmed contravention of FEMA and liability of the individual appellant, but reduced the penalties on proportionality and adjusted the pre-deposit.
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