Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Rejection of approvals u/s 80G - approval application filed belatedly - The Tribunal noted that the CBDT had extended deadlines for filing applications for registration or approval in light of genuine hardships faced by charitable entities. This was a significant consideration, indicating a recognition of practical difficulties and an intent to mitigate them. The Tribunal held that the timelines prescribed under clause (iii) of the first proviso to section 80G(5) should be treated as directory rather than mandatory, especially in light of the transitional nature of amendments introduced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. (TOLA)
Rejection of approvals u/s 80G - approval application filed belatedly - The Tribunal noted that the CBDT had extended deadlines for filing applications for registration or approval in light of genuine hardships faced by charitable entities. This was a significant consideration, indicating a recognition of practical difficulties and an intent to mitigate them. The Tribunal held that the timelines prescribed under clause (iii) of the first proviso to section 80G(5) should be treated as directory rather than mandatory, especially in light of the transitional nature of amendments introduced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. (TOLA)
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
