Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Ex gratia received under the BSNL voluntary retirement scheme was treated as exempt retrenchment compensation under section 10(10B), not as a limited claim under section 10(10C), because the issue was already covered by coordinate bench rulings on identical BSNL facts. As no contrary High Court decision was shown and the assessee was on the same footing as earlier cases involving the same employer and similar circumstances, the ITAT followed that view, directed the Assessing Officer to grant the exemption, and allowed both appeals.
Ex gratia received under the BSNL voluntary retirement scheme was treated as exempt retrenchment compensation under section 10(10B), not as a limited claim under section 10(10C), because the issue was already covered by coordinate bench rulings on identical BSNL facts. As no contrary High Court decision was shown and the assessee was on the same footing as earlier cases involving the same employer and similar circumstances, the ITAT followed that view, directed the Assessing Officer to grant the exemption, and allowed both appeals.
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