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...
Revision u/s 263 - error noted by the CIT that sale of properties by the assessee during the year was not examined by the AO vis-à-vis its stamp duty value for the purpose of invoking section 43CA - The appellant challenges the validity of the PCIT's directions, particularly regarding property transactions and stamp duty valuations under section 43CA. The ITAT ultimately rules in favor of the appellant, finding no error in the AO's assessment order and determining that the PCIT's directions were beyond the scope of revenue authorities' powers. Additionally, it clarifies the limited role of revenue authorities in questioning stamp duty valuations under section 43CA.
Revision u/s 263 - error noted by the CIT that sale of properties by the assessee during the year was not examined by the AO vis-à-vis its stamp duty value for the purpose of invoking section 43CA - The appellant challenges the validity of the PCIT's directions, particularly regarding property transactions and stamp duty valuations under section 43CA. The ITAT ultimately rules in favor of the appellant, finding no error in the AO's assessment order and determining that the PCIT's directions were beyond the scope of revenue authorities' powers. Additionally, it clarifies the limited role of revenue authorities in questioning stamp duty valuations under section 43CA.
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