Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Regular Approval u/s 80G(5) - Constitutional Validity of circular - CBDT issues circulars enlarging the time limit even beyond the prescribed limit to mitigate the rigours of the statute and the hardship faced by the assessees. The same is in exercise of its powers under Section 119(2)(b) of the Act. - Based on the lack of justification for the differential treatment between existing and new trusts, the High Court declared the impugned clause of the circular as illegitimate, arbitrary, and ultra vires the Constitution of India.
Regular Approval u/s 80G(5) - Constitutional Validity of circular - CBDT issues circulars enlarging the time limit even beyond the prescribed limit to mitigate the rigours of the statute and the hardship faced by the assessees. The same is in exercise of its powers under Section 119(2)(b) of the Act. - Based on the lack of justification for the differential treatment between existing and new trusts, the High Court declared the impugned clause of the circular as illegitimate, arbitrary, and ultra vires the Constitution of India.
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TaxTMI 
TaxTMI 
