Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
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The Tribunal dealt with three business expenditure claims. It deleted disallowance of input tax credit reversal because the amount was shown to form part of total project cost and was apportioned between cost of sales and closing work-in-progress, so the factual basis for rejection failed. It remanded the claim for advances written off as trading loss because the assessee had to first establish business purpose and irrecoverability, and was allowed to produce further evidence. It sustained disallowance of social activity and charitable expenditure, holding that charitable outlays and an unexplained training fee had no demonstrated nexus with the real estate business.
The Tribunal dealt with three business expenditure claims. It deleted disallowance of input tax credit reversal because the amount was shown to form part of total project cost and was apportioned between cost of sales and closing work-in-progress, so the factual basis for rejection failed. It remanded the claim for advances written off as trading loss because the assessee had to first establish business purpose and irrecoverability, and was allowed to produce further evidence. It sustained disallowance of social activity and charitable expenditure, holding that charitable outlays and an unexplained training fee had no demonstrated nexus with the real estate business.
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