Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Section 73 of the CGST Act requires GST assessment and demand limitation to be determined separately for each financial year, with reference to the relevant annual return. A composite show cause notice covering multiple financial years improperly combines distinct tax periods, due dates, limitation periods, allegations and response opportunities. High Court precedent is binding within its territorial jurisdiction. The composite notice was quashed, while preserving the respondents' liberty to issue fresh notices separately in accordance with Section 73, subject to any other legal impediment.
Section 73 of the CGST Act requires GST assessment and demand limitation to be determined separately for each financial year, with reference to the relevant annual return. A composite show cause notice covering multiple financial years improperly combines distinct tax periods, due dates, limitation periods, allegations and response opportunities. High Court precedent is binding within its territorial jurisdiction. The composite notice was quashed, while preserving the respondents' liberty to issue fresh notices separately in accordance with Section 73, subject to any other legal impediment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
