Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Belated electronic filing of Form No. 9A for deemed application of charitable income may be condoned where substantial compliance and sufficient cause are established. The administrative condonation remedy under section 119(2)(b) is additional and does not bar appellate consideration of an exemption claim after administrative condonation is refused. Filing during assessment proceedings in the first year of mandatory electronic filing, without evidence of deliberate or mala fide delay, supported condonation of the short delay. The delayed Form No. 9A was treated as valid, and the deemed-application claim was directed to be considered after verification of the remaining statutory conditions and a hearing.
Belated electronic filing of Form No. 9A for deemed application of charitable income may be condoned where substantial compliance and sufficient cause are established. The administrative condonation remedy under section 119(2)(b) is additional and does not bar appellate consideration of an exemption claim after administrative condonation is refused. Filing during assessment proceedings in the first year of mandatory electronic filing, without evidence of deliberate or mala fide delay, supported condonation of the short delay. The delayed Form No. 9A was treated as valid, and the deemed-application claim was directed to be considered after verification of the remaining statutory conditions and a hearing.
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