Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
A genuine donation made by cheque to an approved institution remained substantively eligible for deduction, and the claim could not be refused merely because the wrong deduction provision was quoted. The Tribunal held that a technical misdescription of the provision did not defeat relief where the facts already on record established eligibility and allowing the claim under the correct provision caused no adverse effect on total income. It also recognised that appellate authority could grant the proper relief on the existing material, so the disallowance was unsustainable and was directed to be deleted.
A genuine donation made by cheque to an approved institution remained substantively eligible for deduction, and the claim could not be refused merely because the wrong deduction provision was quoted. The Tribunal held that a technical misdescription of the provision did not defeat relief where the facts already on record established eligibility and allowing the claim under the correct provision caused no adverse effect on total income. It also recognised that appellate authority could grant the proper relief on the existing material, so the disallowance was unsustainable and was directed to be deleted.
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