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...
Construction for educational institutions and public welfare projects was treated as non-commercial: works for a charitable medical college, police housing and allied welfare facilities did not become taxable merely because fees were collected, incidental revenue arose, or a small shopping or canteen component existed. An accepted VCES declaration could not be reopened as "substantially false" merely because the Department later took a different valuation or interpretational view, so finality attached to the declaration. On limitation and penalty, minor reconciliation differences between the profit and loss account and ST-3 returns, together with payment before notice and absence of suppression, defeated extended limitation and consequential penalties; only the admitted balance manpower-supply liability survived with interest, subject to limitation.
Construction for educational institutions and public welfare projects was treated as non-commercial: works for a charitable medical college, police housing and allied welfare facilities did not become taxable merely because fees were collected, incidental revenue arose, or a small shopping or canteen component existed. An accepted VCES declaration could not be reopened as "substantially false" merely because the Department later took a different valuation or interpretational view, so finality attached to the declaration. On limitation and penalty, minor reconciliation differences between the profit and loss account and ST-3 returns, together with payment before notice and absence of suppression, defeated extended limitation and consequential penalties; only the admitted balance manpower-supply liability survived with interest, subject to limitation.
Note: It is a system-generated summary and is for quick reference only.
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