Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is available activity-wise and the rental income is not defined as per the section 80P, however assessee has shown such income separately and paid the taxes thereon. Hence, the question of disallowance u/s 80P does not arise, specifically when the assessee has never claimed deduction under section 80P of the Act in respect of the rental income and income sale of crackers.
Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is available activity-wise and the rental income is not defined as per the section 80P, however assessee has shown such income separately and paid the taxes thereon. Hence, the question of disallowance u/s 80P does not arise, specifically when the assessee has never claimed deduction under section 80P of the Act in respect of the rental income and income sale of crackers.
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