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...
Period of limitation to issue notice for reopening of assessment u/s 149 - The High court emphasized the principle that the validity of a notice u/s 148 must be assessed based on the law in force at the time the notice is issued. It was determined that under the amended provisions, and considering the first proviso to Section 149(1) of the Act, the time limit for issuing a notice for AY 2014-15 had expired on 31st March 2021, rendering the impugned notice dated 31st July 2022 as issued beyond the period of limitation. The court also noted that the fifth proviso to Section 149, which allows for the exclusion of certain periods in computing the limitation period, did not salvage the impugned notice from being time-barred. As a result, the petition was allowed in favor of the petitioner.
Period of limitation to issue notice for reopening of assessment u/s 149 - The High court emphasized the principle that the validity of a notice u/s 148 must be assessed based on the law in force at the time the notice is issued. It was determined that under the amended provisions, and considering the first proviso to Section 149(1) of the Act, the time limit for issuing a notice for AY 2014-15 had expired on 31st March 2021, rendering the impugned notice dated 31st July 2022 as issued beyond the period of limitation. The court also noted that the fifth proviso to Section 149, which allows for the exclusion of certain periods in computing the limitation period, did not salvage the impugned notice from being time-barred. As a result, the petition was allowed in favor of the petitioner.
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