PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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A mistaken claim in the return does not by itself defeat exemption where the assessee's substantive status as a local authority is established. The Tribunal noted that the Revenue had accepted the assessee's entitlement in earlier and later assessments, there was no change in its activities, and the receipts were from municipal functions supported by audited accounts and budget documents. On that basis, the inadvertent claim of deduction under section 57 instead of exemption under section 10(20) was treated as an error in form, not substance. The exemption was held allowable and the addition made by denying it was deleted.
A mistaken claim in the return does not by itself defeat exemption where the assessee's substantive status as a local authority is established. The Tribunal noted that the Revenue had accepted the assessee's entitlement in earlier and later assessments, there was no change in its activities, and the receipts were from municipal functions supported by audited accounts and budget documents. On that basis, the inadvertent claim of deduction under section 57 instead of exemption under section 10(20) was treated as an error in form, not substance. The exemption was held allowable and the addition made by denying it was deleted.
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