Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Deduction for donation to a political party under section 80-GGC was denied because the assessee failed to prove the genuineness of the alleged contribution on the overall facts. Although the payment was routed through banking channels and receipts were produced, the Tribunal found these factors insufficient, noting material indicating circuitous donation transactions, absence of any supporting material showing the party's presence or nexus with the assessee, and the unusual circumstance that this was the assessee's only claimed philanthropic activity and a substantial profit-linked claim. The Tribunal upheld the disallowance. The challenge to initiation of penalty proceedings under section 270A was treated as premature and not entertained.
Deduction for donation to a political party under section 80-GGC was denied because the assessee failed to prove the genuineness of the alleged contribution on the overall facts. Although the payment was routed through banking channels and receipts were produced, the Tribunal found these factors insufficient, noting material indicating circuitous donation transactions, absence of any supporting material showing the party's presence or nexus with the assessee, and the unusual circumstance that this was the assessee's only claimed philanthropic activity and a substantial profit-linked claim. The Tribunal upheld the disallowance. The challenge to initiation of penalty proceedings under section 270A was treated as premature and not entertained.
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