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...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Penalty u/s 271D & 271E - allegation of cash loan having been taken/repaid - The ITAT underscored the principle that penalties under Sections 271D and 271E for violations of Sections 269SS and 269T are not applicable when the existence of the transactions (cash loans taken and repaid) is itself disputed. Furthermore, it highlighted the importance of adhering to principles of natural justice, including the right to cross-examine evidence used against the assessee.
Penalty u/s 271D & 271E - allegation of cash loan having been taken/repaid - The ITAT underscored the principle that penalties under Sections 271D and 271E for violations of Sections 269SS and 269T are not applicable when the existence of the transactions (cash loans taken and repaid) is itself disputed. Furthermore, it highlighted the importance of adhering to principles of natural justice, including the right to cross-examine evidence used against the assessee.
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