Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
The case involved rectification of a mistake u/s 154 for denial of exemption u/s 11. The appellant mistakenly classified income as "business income" instead of "income from other sources," resulting in denial of exemption. The appellant rectified this by submitting a revised return within the prescribed time frame u/s 139(5), not as a Section 154 application. As no intimation u/s 143(1) was issued within the stipulated period, the revised return was deemed accepted. Even if treated as a Section 154 application, the CPC's failure to pass an order within six months led to deemed acceptance. The rejection of a second rectification application lacked justification as all necessary details were provided in the revised return. The tribunal directed the exemption u/s 11 to be granted.
The case involved rectification of a mistake u/s 154 for denial of exemption u/s 11. The appellant mistakenly classified income as "business income" instead of "income from other sources," resulting in denial of exemption. The appellant rectified this by submitting a revised return within the prescribed time frame u/s 139(5), not as a Section 154 application. As no intimation u/s 143(1) was issued within the stipulated period, the revised return was deemed accepted. Even if treated as a Section 154 application, the CPC's failure to pass an order within six months led to deemed acceptance. The rejection of a second rectification application lacked justification as all necessary details were provided in the revised return. The tribunal directed the exemption u/s 11 to be granted.
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