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...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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Assessee company failed to deduct tax at source as reflected in Tax Auditor's report. Demand u/s 201(1)/201(14) was barred by limitation. Assessee submitted that Assessing Officer's order was time-barred. Scope of amendment to Section 201(3) was examined. For deductors filing TDS statement, limitation period of two years remained unchanged. For non-filing, it was extended from four to six years. Subsequently, uniform limitation of seven years was introduced prospectively from October 1, 2014. In the present case, for FY 2010-11, where statement was filed on May 13, 2011, the time limit for passing order u/s 201(1) was March 31, 2014. However, the Assessing Officer passed the order on March 28, 2018, beyond the prescribed time limit. Hence, the Appellate Tribunal rightly allowed the appeal, dismissing the revenue's appeal as the assessment was time-barred.
Assessee company failed to deduct tax at source as reflected in Tax Auditor's report. Demand u/s 201(1)/201(14) was barred by limitation. Assessee submitted that Assessing Officer's order was time-barred. Scope of amendment to Section 201(3) was examined. For deductors filing TDS statement, limitation period of two years remained unchanged. For non-filing, it was extended from four to six years. Subsequently, uniform limitation of seven years was introduced prospectively from October 1, 2014. In the present case, for FY 2010-11, where statement was filed on May 13, 2011, the time limit for passing order u/s 201(1) was March 31, 2014. However, the Assessing Officer passed the order on March 28, 2018, beyond the prescribed time limit. Hence, the Appellate Tribunal rightly allowed the appeal, dismissing the revenue's appeal as the assessment was time-barred.
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