Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per the Supreme Court's decision in Wipro Ltd. vs. Pr. CIT. - The ITAT further observed that, the reasoning given by the assessee that within a period of six months from the date of filing of return of income for assessment year 2006- 07, the assessee have filed return of income for assessment year 2007-08 will not help the assessee as the assessee was very well aware of mandatory date of filing the original return of income.
Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per the Supreme Court's decision in Wipro Ltd. vs. Pr. CIT. - The ITAT further observed that, the reasoning given by the assessee that within a period of six months from the date of filing of return of income for assessment year 2006- 07, the assessee have filed return of income for assessment year 2007-08 will not help the assessee as the assessee was very well aware of mandatory date of filing the original return of income.
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