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...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Penalty for belated filing of TDS returns may not be sustained where penalty proceedings are initiated after an unexplained nine-year lapse. The Tribunal note states that, following a coordinate Bench decision on materially similar facts, the delayed penalty was treated as illegal and unsustainable. The penalty order was set aside and the taxpayer's appeal was allowed.
Penalty for belated filing of TDS returns may not be sustained where penalty proceedings are initiated after an unexplained nine-year lapse. The Tribunal note states that, following a coordinate Bench decision on materially similar facts, the delayed penalty was treated as illegal and unsustainable. The penalty order was set aside and the taxpayer's appeal was allowed.
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