Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Market fee and cess payable under a State enactment are statutory levies, not consideration for contractual work, and therefore do not attract tax deduction at source under the provision governing contractual payments. Government-prescribed procurement payments to societies, supported by sanctioned rates, reimbursement arrangements, control accounts and separately identifiable remuneration, constitute pass-through disbursements rather than contractor or subcontractor expenditure. The related disallowances for non-deduction of tax were deleted. Remission or cessation of a trading liability requires proof of a benefit obtained through an actual waiver, write-back, remission or extinguishment during the relevant year. Outstanding balances, without more, do not establish cessation where liabilities remain recorded, transactions continue and subsequent payments occur; the creditor-liability addition was deleted.
Market fee and cess payable under a State enactment are statutory levies, not consideration for contractual work, and therefore do not attract tax deduction at source under the provision governing contractual payments. Government-prescribed procurement payments to societies, supported by sanctioned rates, reimbursement arrangements, control accounts and separately identifiable remuneration, constitute pass-through disbursements rather than contractor or subcontractor expenditure. The related disallowances for non-deduction of tax were deleted. Remission or cessation of a trading liability requires proof of a benefit obtained through an actual waiver, write-back, remission or extinguishment during the relevant year. Outstanding balances, without more, do not establish cessation where liabilities remain recorded, transactions continue and subsequent payments occur; the creditor-liability addition was deleted.
Note: It is a system-generated summary and is for quick reference only.
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