Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
The ITAT allowed the assessee's appeals on the following grounds: 1) Regarding exemption u/s 11 for charitable activity, the matter was referred to the AO to examine allowability in view of the SC decision in ACIT vs. Ahmedabad Urban Development Authority on computation of receipts from trade/business. 2) The write-off of non-recoverable amounts from terminated members was allowed as the security deposits were non-refundable and taken into the assessee's corpus, and the dues were already shown as income.
The ITAT allowed the assessee's appeals on the following grounds: 1) Regarding exemption u/s 11 for charitable activity, the matter was referred to the AO to examine allowability in view of the SC decision in ACIT vs. Ahmedabad Urban Development Authority on computation of receipts from trade/business. 2) The write-off of non-recoverable amounts from terminated members was allowed as the security deposits were non-refundable and taken into the assessee's corpus, and the dues were already shown as income.
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