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...
Scope of Rectification u/s 254 - Power of ITAT - valuation of a bundle of sports rights purchased by the petitioner - Despite detailed expert opinions and submissions by the petitioner, the Tribunal opted for a blanket remand to the TPO for fresh valuation, without addressing key issues raised by the petitioner. - The High Court referenced previous judgments, emphasizing the duty of the Tribunal to consider all factual and legal issues before remanding cases. - The Court highlighted the mistake apparent from the record, emphasizing that the Tribunal's failure to address fundamental submissions made by the petitioner warranted rectification of the order. - Matter restored back before the Tribunal.
Scope of Rectification u/s 254 - Power of ITAT - valuation of a bundle of sports rights purchased by the petitioner - Despite detailed expert opinions and submissions by the petitioner, the Tribunal opted for a blanket remand to the TPO for fresh valuation, without addressing key issues raised by the petitioner. - The High Court referenced previous judgments, emphasizing the duty of the Tribunal to consider all factual and legal issues before remanding cases. - The Court highlighted the mistake apparent from the record, emphasizing that the Tribunal's failure to address fundamental submissions made by the petitioner warranted rectification of the order. - Matter restored back before the Tribunal.
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