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...
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The Appellate Tribunal addressed the issue of non-grant of registration u/s 12AB from the assessment year 2021-22 due to an amendment to Clause (ac) of section 12A(1) by TOLA. The Tribunal found that the trust had applied for fresh registration in Form 10A as required by the amended law. It criticized the decision of the PCIT/CIT for granting registration only from 2022-23 to 2026-27 instead of from 2021-22 onwards. The Tribunal held that the assessee was entitled to registration from 2021-22, overturned the previous decision, and instructed the PCIT/CIT to grant registration from the said year. The appeal by the assessee was allowed for statistical purposes.
The Appellate Tribunal addressed the issue of non-grant of registration u/s 12AB from the assessment year 2021-22 due to an amendment to Clause (ac) of section 12A(1) by TOLA. The Tribunal found that the trust had applied for fresh registration in Form 10A as required by the amended law. It criticized the decision of the PCIT/CIT for granting registration only from 2022-23 to 2026-27 instead of from 2021-22 onwards. The Tribunal held that the assessee was entitled to registration from 2021-22, overturned the previous decision, and instructed the PCIT/CIT to grant registration from the said year. The appeal by the assessee was allowed for statistical purposes.
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