Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Grant of approval u/s. 80G(5) - denial of approval as application was not filed within six months from the date of grant of provisional approval - The Tribunal observed that the Act does not empower it to condone delays in such matters, unlike provisions for other sections. Citing legal precedents, it affirmed that without explicit statutory authority, delay condonation is not permissible. Consequently, the denial of approval u/s. 80G(5) by the ld. CIT, Exemption was upheld.
Grant of approval u/s. 80G(5) - denial of approval as application was not filed within six months from the date of grant of provisional approval - The Tribunal observed that the Act does not empower it to condone delays in such matters, unlike provisions for other sections. Citing legal precedents, it affirmed that without explicit statutory authority, delay condonation is not permissible. Consequently, the denial of approval u/s. 80G(5) by the ld. CIT, Exemption was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
