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...
Stay petition - prima facie case - on objections being filed by the assessee, the AO disposed of the objections then in appeal the CIT(A) ought to have considered the validity of the reopening and not rejected the appeal on the ground that the assessee participated in response to the notice issued u/s 148 - this would be sufficient to hold that the assessee has made out a prima facie case
Stay petition - prima facie case - on objections being filed by the assessee, the AO disposed of the objections then in appeal the CIT(A) ought to have considered the validity of the reopening and not rejected the appeal on the ground that the assessee participated in response to the notice issued u/s 148 - this would be sufficient to hold that the assessee has made out a prima facie case
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