Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Validity of reassessment order passed u/s 39(2) of the Karnataka Value Added Tax - barred by limitation or not - It is pertinent to note that Section 40(2) of the Act applies to a case of a dealer who is unregistered and who has not paid taxes and has fraudulently failed to pay tax which results in punishment under Section 79 of the Act - the condition precedent for invocation of Section 40(2) of the Act have not been fulfilled in the case of the respondent and hence, the aforesaid provision does not apply to the case of the respondent. - the proceeding has to be held to be barred by limitation in view of the period of limitation prescribed under Section 46(1) of the Act. - HC
Validity of reassessment order passed u/s 39(2) of the Karnataka Value Added Tax - barred by limitation or not - It is pertinent to note that Section 40(2) of the Act applies to a case of a dealer who is unregistered and who has not paid taxes and has fraudulently failed to pay tax which results in punishment under Section 79 of the Act - the condition precedent for invocation of Section 40(2) of the Act have not been fulfilled in the case of the respondent and hence, the aforesaid provision does not apply to the case of the respondent. - the proceeding has to be held to be barred by limitation in view of the period of limitation prescribed under Section 46(1) of the Act. - HC
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