Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
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Discretion to condone delay in filing a revised return may be exercised where revisions to tax-reporting information result in the same interest income being taxed in two assessment years. Genuine hardship must be assessed from the surrounding facts rather than a fixed formula. Double taxation, prompt pursuit of rectification remedies and absence of taxpayer inaction supported relief, while refusal would result in unjust enrichment. Permission to file the revised return was granted, subject to verification of the relevant facts and an appropriate decision in accordance with law.
Discretion to condone delay in filing a revised return may be exercised where revisions to tax-reporting information result in the same interest income being taxed in two assessment years. Genuine hardship must be assessed from the surrounding facts rather than a fixed formula. Double taxation, prompt pursuit of rectification remedies and absence of taxpayer inaction supported relief, while refusal would result in unjust enrichment. Permission to file the revised return was granted, subject to verification of the relevant facts and an appropriate decision in accordance with law.
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