Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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...
The case involved the scope of limited scrutiny and the validity of a notice u/s 143(2) of the Income Tax Act. The assessee's case was selected for limited scrutiny to verify cash deposits during demonetization. However, the Assessing Officer (AO) attempted to convert the limited scrutiny into a full scrutiny. The Tribunal held that although the notice mentioned limited scrutiny, the subsequent paragraphs referred to scrutiny without specifying its limited nature. The AO identified the issue for examination as cash deposits during demonetization, indicating a limited purpose. To enlarge the scope and make other additions, the AO should have followed the procedure laid down by the CBDT's Instruction No. 5. Since the AO did not make any addition regarding cash deposits during demonetization and the assessee had deposited small accepted amounts, the assessment order was quashed for exceeding the AO's limited powers. The appeal was allowed, and the Tribunal emphasized the need to follow due procedure for converting a limited scrutiny into a full scrutiny.
The case involved the scope of limited scrutiny and the validity of a notice u/s 143(2) of the Income Tax Act. The assessee's case was selected for limited scrutiny to verify cash deposits during demonetization. However, the Assessing Officer (AO) attempted to convert the limited scrutiny into a full scrutiny. The Tribunal held that although the notice mentioned limited scrutiny, the subsequent paragraphs referred to scrutiny without specifying its limited nature. The AO identified the issue for examination as cash deposits during demonetization, indicating a limited purpose. To enlarge the scope and make other additions, the AO should have followed the procedure laid down by the CBDT's Instruction No. 5. Since the AO did not make any addition regarding cash deposits during demonetization and the assessee had deposited small accepted amounts, the assessment order was quashed for exceeding the AO's limited powers. The appeal was allowed, and the Tribunal emphasized the need to follow due procedure for converting a limited scrutiny into a full scrutiny.
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