Anonymous donation classification fails where charitable trusts maintain undisputed donor identity records and evidence corpus contributions' intended...
Transfer pricing method selection favours TNMM where medical-equipment distribution involves substantial post-import value addition and operational ri...
Post-export shipping bill conversion remains available where contemporaneous evidence supports EPCG benefits despite curable procedural omissions and ...
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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