Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Assessment u/s 144 - estimation of income - Method of accounting - Non rejection of books of account - disallowance of expenses, addition of inflated purchases and protective addition of cash found and seized - The court dismissed the appeals of the Revenue, upholding the view taken by the ITAT. It concluded that the additions made by the AO without rejecting the books of account were not justified. This
Assessment u/s 144 - estimation of income - Method of accounting - Non rejection of books of account - disallowance of expenses, addition of inflated purchases and protective addition of cash found and seized - The court dismissed the appeals of the Revenue, upholding the view taken by the ITAT. It concluded that the additions made by the AO without rejecting the books of account were not justified. This
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