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...
Best Judgement assessment u/s 144 - Estimation of income - The Assessing Officer issued notices under section 143(2) as well as various notices issued under sections 142(1) alongwith the questionnaire to the assessee however, the assessee has not responded to the notice issued by the AO and consequently the assessment was framed under section 144 on the basis of the material available on record. - Matter restored back for computation of gross receipts/turnover of the assessee and estimation of income by giving one more opportunity to the assessee to furnish the relevant details - AT
Best Judgement assessment u/s 144 - Estimation of income - The Assessing Officer issued notices under section 143(2) as well as various notices issued under sections 142(1) alongwith the questionnaire to the assessee however, the assessee has not responded to the notice issued by the AO and consequently the assessment was framed under section 144 on the basis of the material available on record. - Matter restored back for computation of gross receipts/turnover of the assessee and estimation of income by giving one more opportunity to the assessee to furnish the relevant details - AT
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