Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
AO's findings on unspent funds u/s 11 set aside. Capital fund use for assets, WIP & current assets excluded from Sec 11(2)/(5). Remanded for fresh adjudication.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Assessing Officer's findings regarding accumulated unspent funds u/s 11 were set aside due to lack of audited financial statements and return of income for relevant year. Capital fund utilization for fixed assets, work in progress, and current assets excluded from Section 11(2) read with Section 11(5) investment requirements. Issue remanded to Assessing Officer for fresh adjudication as per law. Appeal allowed for statistical purposes by Income Tax Appellate Tribunal.
Assessing Officer's findings regarding accumulated unspent funds u/s 11 were set aside due to lack of audited financial statements and return of income for relevant year. Capital fund utilization for fixed assets, work in progress, and current assets excluded from Section 11(2) read with Section 11(5) investment requirements. Issue remanded to Assessing Officer for fresh adjudication as per law. Appeal allowed for statistical purposes by Income Tax Appellate Tribunal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
