Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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...
Furnishing Form No. 10B for a charitable trust is procedural and directory; a one-day delay cannot by itself defeat exemption under section 11 when substantive statutory conditions are met. ITAT treated denial of the exemption solely on account of the delayed audit report as unsustainable and directed that the claimed exemption be granted, subject to fulfilment of the remaining substantive conditions. The appeal was allowed.
Furnishing Form No. 10B for a charitable trust is procedural and directory; a one-day delay cannot by itself defeat exemption under section 11 when substantive statutory conditions are met. ITAT treated denial of the exemption solely on account of the delayed audit report as unsustainable and directed that the claimed exemption be granted, subject to fulfilment of the remaining substantive conditions. The appeal was allowed.
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