Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
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Validity of Curtailing and whittling down the benefits with retrospective benefit - Musical Instruments - Tax exemption is a concession. Thus, exemption from payment of tax can never be claimed as a matter of right. Exemptions are to be granted strictly in consonance with the provisions of the Act. Thus, purposive and contextual interpretation of exemption provisions are imminent for the purpose of extending the benefit of exemption. - the subsequent Notification is a clarificatory in nature and cannot be construed as cancellation of the exemption granted - HC
Validity of Curtailing and whittling down the benefits with retrospective benefit - Musical Instruments - Tax exemption is a concession. Thus, exemption from payment of tax can never be claimed as a matter of right. Exemptions are to be granted strictly in consonance with the provisions of the Act. Thus, purposive and contextual interpretation of exemption provisions are imminent for the purpose of extending the benefit of exemption. - the subsequent Notification is a clarificatory in nature and cannot be construed as cancellation of the exemption granted - HC
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