Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
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LTCG - deduction u/s 54F - Ownership of more than one residential house at the time of sale of an original asset - The tribunal sided with the interpretation that joint ownership of property does not equate to full ownership, and hence does not disqualify the assessee from availing the deduction under section 54F of the Income Tax Act, following the reasoning of the Madras High Court over that of the Karnataka High Court.
LTCG - deduction u/s 54F - Ownership of more than one residential house at the time of sale of an original asset - The tribunal sided with the interpretation that joint ownership of property does not equate to full ownership, and hence does not disqualify the assessee from availing the deduction under section 54F of the Income Tax Act, following the reasoning of the Madras High Court over that of the Karnataka High Court.
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