Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The Appellate Tribunal addressed the issue of rejection of approval u/s 80G due to late filing of Form 10AB. The Tribunal held that the CIT(E) should have considered the application on merits rather than declaring it non-maintainable solely based on the commencement date of activities. The assessee obtained provisional approval and filed Form 10AB within the specified time frame, meeting the requirements of Section 80G(5)(iii). The Tribunal emphasized that the commencement date of activities before incorporation was irrelevant in this case. The phrase "whichever is earlier" was deemed inapplicable given the unique circumstances of the case. The decision lacked a thorough examination of the merits of the application, highlighting a legal flaw in the approach taken.
The Appellate Tribunal addressed the issue of rejection of approval u/s 80G due to late filing of Form 10AB. The Tribunal held that the CIT(E) should have considered the application on merits rather than declaring it non-maintainable solely based on the commencement date of activities. The assessee obtained provisional approval and filed Form 10AB within the specified time frame, meeting the requirements of Section 80G(5)(iii). The Tribunal emphasized that the commencement date of activities before incorporation was irrelevant in this case. The phrase "whichever is earlier" was deemed inapplicable given the unique circumstances of the case. The decision lacked a thorough examination of the merits of the application, highlighting a legal flaw in the approach taken.
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TaxTMI 
TaxTMI 
of 4881 
