Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Year-end provisions for audit fees and contractor payments remain deductible where consistently accrued, discharged subsequently, and excess provisions are reversed and offered to tax. Unclaimed interest or capital expenditure recorded in the balance sheet cannot be added merely because it appears as an accrued liability. Section 251 permits remand or setting aside only for ex parte assessments under section 144, making remand for fresh verification impermissible for assessments under section 143(3). No disallowance arises for payments not subject to tax deduction at source or for expenditure relating to exempt income where no exempt income is earned. Income already offered to tax cannot be taxed again; actuarially valued leave-encashment liabilities are deductible; and under-reporting penalty requires valid initiation with recorded satisfaction.
Year-end provisions for audit fees and contractor payments remain deductible where consistently accrued, discharged subsequently, and excess provisions are reversed and offered to tax. Unclaimed interest or capital expenditure recorded in the balance sheet cannot be added merely because it appears as an accrued liability. Section 251 permits remand or setting aside only for ex parte assessments under section 144, making remand for fresh verification impermissible for assessments under section 143(3). No disallowance arises for payments not subject to tax deduction at source or for expenditure relating to exempt income where no exempt income is earned. Income already offered to tax cannot be taxed again; actuarially valued leave-encashment liabilities are deductible; and under-reporting penalty requires valid initiation with recorded satisfaction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
