Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Section 12AA(2) of the Income Tax Act, 1961 does not recognize any deemed grant of registration if the application is not decided within six months. The Supreme Court in Harshit Foundation Sehmalpur upheld the Allahabad High Court's decision in Muzaffar Nagar Development Authority, which held that the Parliament has not provided for such a deeming fiction. This decision is the law declared by the Supreme Court under Article 141 of the Constitution. The decisions in Society for Promotion of Education and Harshit Foundation Sehmalpur are not mutually irreconcilable, as they address different aspects of the interplay between Sections 12A and 12AA(2). The specific deeming provision in Section 12AA(2) does not conceive any deemed registration if the application is not decided within six months.
Section 12AA(2) of the Income Tax Act, 1961 does not recognize any deemed grant of registration if the application is not decided within six months. The Supreme Court in Harshit Foundation Sehmalpur upheld the Allahabad High Court's decision in Muzaffar Nagar Development Authority, which held that the Parliament has not provided for such a deeming fiction. This decision is the law declared by the Supreme Court under Article 141 of the Constitution. The decisions in Society for Promotion of Education and Harshit Foundation Sehmalpur are not mutually irreconcilable, as they address different aspects of the interplay between Sections 12A and 12AA(2). The specific deeming provision in Section 12AA(2) does not conceive any deemed registration if the application is not decided within six months.
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