Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Disallowance on depreciation – reduction of subsidy amount from the cost of fixed assets - the accrual of receipts was in favour of the assessee only in the year in which all the terms and conditions of the scheme were duly complied and the loans to the banks were liquidated - to be adjusted in the year of actual receipt only - AT
Disallowance on depreciation – reduction of subsidy amount from the cost of fixed assets - the accrual of receipts was in favour of the assessee only in the year in which all the terms and conditions of the scheme were duly complied and the loans to the banks were liquidated - to be adjusted in the year of actual receipt only - AT
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