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 High Court addressed the issue of exemption u/s 10(25)(iii) of the Income Tax Act. The Assessing Officer denied the exemption to the assessee fund, claiming it lost recognition without a formal order of withdrawal by the Commissioner of Income Tax. The Court held that as long as the approval u/s 10(25)(iii) and rules remained valid, the Assessing Officer must grant exemption. The Assessing Officer lacked jurisdiction to deny exemption based on recognition loss. The power to withdraw approval lies with the competent authority as per the rules. The High Court set aside the ITAT's order, ruling in favor of the assessee, emphasizing the importance of upholding approved exemptions and maintaining judicial discipline.
The High Court addressed the issue of exemption u/s 10(25)(iii) of the Income Tax Act. The Assessing Officer denied the exemption to the assessee fund, claiming it lost recognition without a formal order of withdrawal by the Commissioner of Income Tax. The Court held that as long as the approval u/s 10(25)(iii) and rules remained valid, the Assessing Officer must grant exemption. The Assessing Officer lacked jurisdiction to deny exemption based on recognition loss. The power to withdraw approval lies with the competent authority as per the rules. The High Court set aside the ITAT's order, ruling in favor of the assessee, emphasizing the importance of upholding approved exemptions and maintaining judicial discipline.
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