Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Reassessment of an approved educational trust is unwarranted where, even after proposed disallowances, income applied to its objects remains above the 85% exemption threshold and no taxable income escapes assessment. The proviso to section 10(23C)(vi) permits accumulation of up to 15% of income, while section 152(2) permits reassessment proceedings to be dropped if the alleged escaped income does not reduce the assessed tax liability. Reopening and consequential reassessment were quashed. Revisionary power under section 264 may also modify, revoke or set aside an assessment made contrary to an interim court order, provided the resulting order is not prejudicial to the assessee; administrative system limitations do not excuse failure to remedy the breach.
Reassessment of an approved educational trust is unwarranted where, even after proposed disallowances, income applied to its objects remains above the 85% exemption threshold and no taxable income escapes assessment. The proviso to section 10(23C)(vi) permits accumulation of up to 15% of income, while section 152(2) permits reassessment proceedings to be dropped if the alleged escaped income does not reduce the assessed tax liability. Reopening and consequential reassessment were quashed. Revisionary power under section 264 may also modify, revoke or set aside an assessment made contrary to an interim court order, provided the resulting order is not prejudicial to the assessee; administrative system limitations do not excuse failure to remedy the breach.
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