Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
HC allowed the petition. Petitioner was entitled to deduction for broken period interest on purchase of HTM securities. The issue was no longer res integra in view of SC's decision in Bank of Rajasthan case. There was no basis for initiating reassessment proceedings against petitioner which were contrary to settled legal position.
HC allowed the petition. Petitioner was entitled to deduction for broken period interest on purchase of HTM securities. The issue was no longer res integra in view of SC's decision in Bank of Rajasthan case. There was no basis for initiating reassessment proceedings against petitioner which were contrary to settled legal position.
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