Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Section 292A of the Income-tax Act expressly bars the application of section 360 of the Code of Criminal Procedure and the Probation of Offenders Act to persons convicted of Income-tax Act offences, except those under eighteen years of age. In relation to a conviction for making a false statement in an income-tax return under section 277, the High Court noted that the trial court had overlooked this statutory prohibition when granting probation. The order granting probation was therefore set aside, while the conviction remained undisturbed. The matter was remitted for fresh determination of sentence after hearing both sides.
Section 292A of the Income-tax Act expressly bars the application of section 360 of the Code of Criminal Procedure and the Probation of Offenders Act to persons convicted of Income-tax Act offences, except those under eighteen years of age. In relation to a conviction for making a false statement in an income-tax return under section 277, the High Court noted that the trial court had overlooked this statutory prohibition when granting probation. The order granting probation was therefore set aside, while the conviction remained undisturbed. The matter was remitted for fresh determination of sentence after hearing both sides.
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