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...
Filing of Form 10-IE to opt for the new tax regime u/s 115BAC is directory, not mandatory. If filed before assessment, the Assessing Officer must consider it. The requirement to file Form 67 for Foreign Tax Credit before the due date u/s 139(1) is also directory. Technical glitches preventing timely filing should not deprive the assessee of benefits, as held by the High Court. The Tribunal directed the CPC to consider Form 10-IE filed by the assessee and pass appropriate orders, allowing the appeal for statistical purposes.
Filing of Form 10-IE to opt for the new tax regime u/s 115BAC is directory, not mandatory. If filed before assessment, the Assessing Officer must consider it. The requirement to file Form 67 for Foreign Tax Credit before the due date u/s 139(1) is also directory. Technical glitches preventing timely filing should not deprive the assessee of benefits, as held by the High Court. The Tribunal directed the CPC to consider Form 10-IE filed by the assessee and pass appropriate orders, allowing the appeal for statistical purposes.
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