Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Expenditure incurred by a society on garba and advertisement was treated as connected with its cultural, social and educational objects, and the mere fact that payments were made to group concerns or that the activity resulted in a loss did not justify disallowance. The Tribunal found no material showing sham, bogus or object-unrelated expenditure, and noted that the authorities had not rejected the books of account under section 145(3) or identified any express defect in the tax audit report. Applying commercial expediency, it held that the tax authorities could not substitute their view for the assessee's business judgment. The loss disallowance was deleted and the appeal was allowed.
Expenditure incurred by a society on garba and advertisement was treated as connected with its cultural, social and educational objects, and the mere fact that payments were made to group concerns or that the activity resulted in a loss did not justify disallowance. The Tribunal found no material showing sham, bogus or object-unrelated expenditure, and noted that the authorities had not rejected the books of account under section 145(3) or identified any express defect in the tax audit report. Applying commercial expediency, it held that the tax authorities could not substitute their view for the assessee's business judgment. The loss disallowance was deleted and the appeal was allowed.
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