Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Specified grants from the Central or Himachal Pradesh...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-filing compliance.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Specified grants from the Central or Himachal Pradesh Government, revenue receipts under the Himachal Pradesh Town and Country Planning Act, 1977, and interest on bank deposits of the Baddi Barotiwala Nalagarh Development Authority are exempt under section 10(46) of the repealed Income-tax Act, 1961. The exemption operates retrospectively for assessment years 2019-20 to 2023-24 under the savings provisions of the Income-tax Act, 2025. It is conditional on the Authority not undertaking commercial activity, maintaining unchanged activities and specified income, and filing returns as required. Non-compliance may trigger penal action and withdrawal of the exemption.
Specified grants from the Central or Himachal Pradesh Government, revenue receipts under the Himachal Pradesh Town and Country Planning Act, 1977, and interest on bank deposits of the Baddi Barotiwala Nalagarh Development Authority are exempt under section 10(46) of the repealed Income-tax Act, 1961. The exemption operates retrospectively for assessment years 2019-20 to 2023-24 under the savings provisions of the Income-tax Act, 2025. It is conditional on the Authority not undertaking commercial activity, maintaining unchanged activities and specified income, and filing returns as required. Non-compliance may trigger penal action and withdrawal of the exemption.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
