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...
Assessee, a non-resident Indian residing outside India for over 25 years, challenged the jurisdiction of Income Tax Officer (ITO), Ward 2(2), Ajmer to issue notice u/s 148 for reassessment proceedings. Evidence showed assessee's residential status as NRI on the date of notice issuance. Faceless Assessment Unit also acknowledged the case pertained to a non-resident individual, requiring assessment at the international charge. ITAT held ITO, Ward 2(2), Ajmer lacked jurisdiction when issuing the notice on 30.03.2022, rendering the reassessment proceedings invalid. Additionally, the Assessing Officer erroneously treated the entire sale consideration as Long Term Capital Gain without considering the original cost and evidence provided by the assessee, resulting in a perverse order, which ITAT quashed.
Assessee, a non-resident Indian residing outside India for over 25 years, challenged the jurisdiction of Income Tax Officer (ITO), Ward 2(2), Ajmer to issue notice u/s 148 for reassessment proceedings. Evidence showed assessee's residential status as NRI on the date of notice issuance. Faceless Assessment Unit also acknowledged the case pertained to a non-resident individual, requiring assessment at the international charge. ITAT held ITO, Ward 2(2), Ajmer lacked jurisdiction when issuing the notice on 30.03.2022, rendering the reassessment proceedings invalid. Additionally, the Assessing Officer erroneously treated the entire sale consideration as Long Term Capital Gain without considering the original cost and evidence provided by the assessee, resulting in a perverse order, which ITAT quashed.
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