Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
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Form No. 10BB filing for exemption of an approved educational institution was treated as procedural and directory, not mandatory, where the audit report had been uploaded and was available when the return was processed and the return was filed within the extended due date; the rejection of the exemption claim was therefore set aside and the matter remitted for fresh consideration, including the assessee's condonation application if produced. The Tribunal also held that, if exemption is ultimately denied, income must be computed on commercial principles, expenditure cannot be disallowed as a prima facie adjustment under section 143(1), and the entire receipts cannot be assessed as income.
Form No. 10BB filing for exemption of an approved educational institution was treated as procedural and directory, not mandatory, where the audit report had been uploaded and was available when the return was processed and the return was filed within the extended due date; the rejection of the exemption claim was therefore set aside and the matter remitted for fresh consideration, including the assessee's condonation application if produced. The Tribunal also held that, if exemption is ultimately denied, income must be computed on commercial principles, expenditure cannot be disallowed as a prima facie adjustment under section 143(1), and the entire receipts cannot be assessed as income.
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