Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
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ITAT held that denial of exemption u/s 11 due to late filing of...
Exemption denied for late form filing, but auditor report filed before notice. Income application claim allowed. No late fee for filing return on time.
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ITAT held that denial of exemption u/s 11 due to late filing of form 10B was unjustified as the audit report was submitted before intimation u/s 143(1). Lack of mala fide intent was noted. Fee u/s 234F for delayed filing was deemed inapplicable as the return was filed before the due date u/s 139(1). Thus, the appeal of the assessee was allowed.
ITAT held that denial of exemption u/s 11 due to late filing of form 10B was unjustified as the audit report was submitted before intimation u/s 143(1). Lack of mala fide intent was noted. Fee u/s 234F for delayed filing was deemed inapplicable as the return was filed before the due date u/s 139(1). Thus, the appeal of the assessee was allowed.
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