Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
The Appellate Tribunal considered the issue of condonation of delay in filing appeals, which exceeded 400 days, due to unexplained cash deposits and protective additions made in the hands of the assessee. The assessee believed the protective addition would be deleted after the substantive addition was removed by the tribunal. The delay was attributed to bonafide reasons, as the assessee acted on advice and filed a rectification application, showing no malafide intention. The Tribunal held that the income from unexplained cash deposits should be assessed in the hands of the society, not the individual, and deleted the protective additions made in the assessee's hands.
The Appellate Tribunal considered the issue of condonation of delay in filing appeals, which exceeded 400 days, due to unexplained cash deposits and protective additions made in the hands of the assessee. The assessee believed the protective addition would be deleted after the substantive addition was removed by the tribunal. The delay was attributed to bonafide reasons, as the assessee acted on advice and filed a rectification application, showing no malafide intention. The Tribunal held that the income from unexplained cash deposits should be assessed in the hands of the society, not the individual, and deleted the protective additions made in the assessee's hands.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
