Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Disallowance of penalty paid for infringement of law - sales tax penalty - as the payment was not to compensate the loss on account of delay in making the payment, but was on account of penalty for breach of law - amount cannot be allowed u/s 37(1) - AT
Disallowance of penalty paid for infringement of law - sales tax penalty - as the payment was not to compensate the loss on account of delay in making the payment, but was on account of penalty for breach of law - amount cannot be allowed u/s 37(1) - AT
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