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...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Revisional jurisdiction under section 264 extends to relief omitted from a return where a charitable trust later identifies an error causing over-assessment. Voluntary disclosure of income as taxable does not bar reconsideration if the trust disclosed the capital gains and relevant particulars without suppressing material; the revisional authority must examine entitlement under law. For charitable-trust capital gains, reinvestment of net sale consideration in a bank fixed deposit for six months or more is treated as acquisition of another capital asset under Instruction No. 883. Conditions under public-trust law cannot be imported to deny this standalone exemption.
Revisional jurisdiction under section 264 extends to relief omitted from a return where a charitable trust later identifies an error causing over-assessment. Voluntary disclosure of income as taxable does not bar reconsideration if the trust disclosed the capital gains and relevant particulars without suppressing material; the revisional authority must examine entitlement under law. For charitable-trust capital gains, reinvestment of net sale consideration in a bank fixed deposit for six months or more is treated as acquisition of another capital asset under Instruction No. 883. Conditions under public-trust law cannot be imported to deny this standalone exemption.
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