Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Limitation for rectification was held to run from the operative reassessment order, because settlement under the DTVSV Scheme does not extinguish the reassessment order itself; the rectification application was therefore within time. The Tribunal also held that a pure legal claim based on facts already on record can be raised in rectification and appellate proceedings even without a revised return, and the Goetze restriction does not bind appellate authorities. Applying the purpose test, the fertilizer subsidy under the Nutrient Based Subsidy Policy was treated as a capital receipt, and as a non-taxable capital receipt it was excluded from book profit under section 115JB. Relief was allowed for one year and upheld for the other.
Limitation for rectification was held to run from the operative reassessment order, because settlement under the DTVSV Scheme does not extinguish the reassessment order itself; the rectification application was therefore within time. The Tribunal also held that a pure legal claim based on facts already on record can be raised in rectification and appellate proceedings even without a revised return, and the Goetze restriction does not bind appellate authorities. Applying the purpose test, the fertilizer subsidy under the Nutrient Based Subsidy Policy was treated as a capital receipt, and as a non-taxable capital receipt it was excluded from book profit under section 115JB. Relief was allowed for one year and upheld for the other.
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