Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The ITAT denied deduction under Sec. 80P(2)(a)(i) to a cooperative society acting as a cooperative bank. However, citing precedents, it allowed deduction for interest income on surplus funds parked as deposits. The ITAT directed the AO to allow the deduction. Regarding paddy procurement business, the ITAT found the restriction of deduction under Sec. 80P(2)(a)(iii) unjustified due to new evidence. The matter was remanded for fresh adjudication based on the extent of facilitation provided to non-members. The ITAT allowed deduction for dividend income on shares of a cooperative bank under Sec. 80P(2)(d), aligning with previous rulings.
The ITAT denied deduction under Sec. 80P(2)(a)(i) to a cooperative society acting as a cooperative bank. However, citing precedents, it allowed deduction for interest income on surplus funds parked as deposits. The ITAT directed the AO to allow the deduction. Regarding paddy procurement business, the ITAT found the restriction of deduction under Sec. 80P(2)(a)(iii) unjustified due to new evidence. The matter was remanded for fresh adjudication based on the extent of facilitation provided to non-members. The ITAT allowed deduction for dividend income on shares of a cooperative bank under Sec. 80P(2)(d), aligning with previous rulings.
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