Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
For AY 2019-20, the option for deemed application of charitable trust income had to be exercised before expiry of the time allowed for filing the return. Form No. 9A filed before the extended return-filing due date met that requirement. The later requirement to furnish Form No. 9A at least two months before the return-filing due date applies prospectively from AY 2023-24. Statutory accumulation or setting apart of income within the permissible fifteen per cent limit is separate from deemed application and does not depend on Form No. 9A, unless the accumulation exceeds that limit.
For AY 2019-20, the option for deemed application of charitable trust income had to be exercised before expiry of the time allowed for filing the return. Form No. 9A filed before the extended return-filing due date met that requirement. The later requirement to furnish Form No. 9A at least two months before the return-filing due date applies prospectively from AY 2023-24. Statutory accumulation or setting apart of income within the permissible fifteen per cent limit is separate from deemed application and does not depend on Form No. 9A, unless the accumulation exceeds that limit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4896 
