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...
A donation to the Prime Minister's National Relief Fund made out of CSR expenditure remained eligible for deduction under section 80G, because the disallowance of CSR under Explanation 2 to section 37(1) operates only in computing business income, while Chapter VI-A deductions apply independently to gross total income. The Tribunal held that there was no statutory bar to claiming the section 80G deduction once the payment was made to an approved fund and the statutory conditions were met. The objection based on absence of voluntariness was rejected, as the assessee's choice of recipient was sufficient. The disallowance was deleted.
A donation to the Prime Minister's National Relief Fund made out of CSR expenditure remained eligible for deduction under section 80G, because the disallowance of CSR under Explanation 2 to section 37(1) operates only in computing business income, while Chapter VI-A deductions apply independently to gross total income. The Tribunal held that there was no statutory bar to claiming the section 80G deduction once the payment was made to an approved fund and the statutory conditions were met. The objection based on absence of voluntariness was rejected, as the assessee's choice of recipient was sufficient. The disallowance was deleted.
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