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 ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Benami transaction - possession of a significant amount of cash - Validity of summoning order - The High Court found merit in the applicant's arguments, emphasizing the lack of sufficient grounds for prosecution under Section 53 of the PBPT Act. It noted the absence of allegations regarding the intention to defeat legal provisions or evade dues in the complaint, rendering the summoning order devoid of legal basis. Emphasizing the seriousness of summoning an accused, the Court granted interim relief, staying further proceedings pending full consideration of the matter.
Benami transaction - possession of a significant amount of cash - Validity of summoning order - The High Court found merit in the applicant's arguments, emphasizing the lack of sufficient grounds for prosecution under Section 53 of the PBPT Act. It noted the absence of allegations regarding the intention to defeat legal provisions or evade dues in the complaint, rendering the summoning order devoid of legal basis. Emphasizing the seriousness of summoning an accused, the Court granted interim relief, staying further proceedings pending full consideration of the matter.
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