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...
ITAT deleted penalty under section 271D where the notice was defective and the alleged contravention did not match the penalty finally imposed: the notice referred to section 271DA read with section 269ST, while the penalty was levied for violation of section 269SS. On merits, the cash receipt formed part of a genuine sale transaction, the Revenue did not dispute that the property deal had materialised, part of the consideration had been paid through banking channels, and the tax consequences were disclosed by the assessee. The Tribunal also noted practical difficulty arising from the purchaser's non-resident status. In these circumstances, the penalty was held unsustainable.
ITAT deleted penalty under section 271D where the notice was defective and the alleged contravention did not match the penalty finally imposed: the notice referred to section 271DA read with section 269ST, while the penalty was levied for violation of section 269SS. On merits, the cash receipt formed part of a genuine sale transaction, the Revenue did not dispute that the property deal had materialised, part of the consideration had been paid through banking channels, and the tax consequences were disclosed by the assessee. The Tribunal also noted practical difficulty arising from the purchaser's non-resident status. In these circumstances, the penalty was held unsustainable.
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