Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Penalty levied u/s 271B - not getting the books of account audited u/s 44AB - The assessee society is also running an educational institution and was under the bonafide belief that since it is not carrying out any business or commercial activity, provisions of section 44AB of the Act are not attracted. In the instant case penalty u/s 271B of the Act was not leviable and we accordingly delete the penalty levied u/s 271B of the Act. - AT
Penalty levied u/s 271B - not getting the books of account audited u/s 44AB - The assessee society is also running an educational institution and was under the bonafide belief that since it is not carrying out any business or commercial activity, provisions of section 44AB of the Act are not attracted. In the instant case penalty u/s 271B of the Act was not leviable and we accordingly delete the penalty levied u/s 271B of the Act. - AT
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