Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
GST registration cancelled for non-filing of returns may be restored where the taxpayer has furnished pending returns and is ready to clear outstanding statutory dues. The Court followed coordinate Bench decisions and directed the taxpayer to apply for restoration within the stipulated time, while requiring the competent authority to verify the application and proceed in accordance with law under the prescribed procedure in the proviso to Rule 22(4). The cancellation order was not finally examined on merits; instead, restoration was left to the authority's scrutiny and compliance review.
GST registration cancelled for non-filing of returns may be restored where the taxpayer has furnished pending returns and is ready to clear outstanding statutory dues. The Court followed coordinate Bench decisions and directed the taxpayer to apply for restoration within the stipulated time, while requiring the competent authority to verify the application and proceed in accordance with law under the prescribed procedure in the proviso to Rule 22(4). The cancellation order was not finally examined on merits; instead, restoration was left to the authority's scrutiny and compliance review.
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