Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
The ITAT Delhi held that the merger of intimation/proceedings u/s 143(1) with regular assessment u/s 143(3) results in the intimation losing relevance once regular assessment is completed. The AO denied exemption u/s 11 due to non-filing of Form 10B, but the intimation u/s 143(1) only serves to verify information accuracy and does not carry the legitimacy of an assessment. The intimation merges with the regular assessment under u/s 143(3), making the appeal against the intimation infructuous. The eligibility for exemption u/s 11 post registration u/s 12A should be raised in the appeal against the regular assessment. The appeal was partly allowed in favor of the assessee, determining the demand raised in the 143(1) intimation as not sustainable.
The ITAT Delhi held that the merger of intimation/proceedings u/s 143(1) with regular assessment u/s 143(3) results in the intimation losing relevance once regular assessment is completed. The AO denied exemption u/s 11 due to non-filing of Form 10B, but the intimation u/s 143(1) only serves to verify information accuracy and does not carry the legitimacy of an assessment. The intimation merges with the regular assessment under u/s 143(3), making the appeal against the intimation infructuous. The eligibility for exemption u/s 11 post registration u/s 12A should be raised in the appeal against the regular assessment. The appeal was partly allowed in favor of the assessee, determining the demand raised in the 143(1) intimation as not sustainable.
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