Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Registration u/s 12A - Rejection of petitioner's application u/s 119(2)(b) for delay in filing audit report in Form-10B. Held that petitioners are entitled to succeed. Delay in filing audit report in Form-10B can at best be 30 days, as law requires report to be uploaded at least a month before due date for filing returns. Considering extent of delay, Commissioner should have exercised jurisdiction u/s 119(2)(b) to condone delay instead of taking strict view. Relying on Al Jamia Mohammediyah Education Society case, writ petitions allowed by quashing orders dismissing petitioners' applications u/s 119(2)(b). Delay in filing audit report in Form-10B stands condoned.
Registration u/s 12A - Rejection of petitioner's application u/s 119(2)(b) for delay in filing audit report in Form-10B. Held that petitioners are entitled to succeed. Delay in filing audit report in Form-10B can at best be 30 days, as law requires report to be uploaded at least a month before due date for filing returns. Considering extent of delay, Commissioner should have exercised jurisdiction u/s 119(2)(b) to condone delay instead of taking strict view. Relying on Al Jamia Mohammediyah Education Society case, writ petitions allowed by quashing orders dismissing petitioners' applications u/s 119(2)(b). Delay in filing audit report in Form-10B stands condoned.
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