Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
ITAT allowed the assessee's appeal regarding denial of exemption under section 11 of Income Tax Act. While the return was not filed within time prescribed under section 139(1), it was filed before the extended deadline under section 139(4A). Following binding CBDT Circular No.173/193/2019, which directs rectification of section 143(1)(a) orders and related demands in such cases, ITAT set aside CIT(A)'s order. Matter remanded to CIT(A) for passing rectification order as per CBDT guidelines. The ruling establishes that belated returns filed within section 139(4A) timeline qualify for exemption, provided other conditions are met.
ITAT allowed the assessee's appeal regarding denial of exemption under section 11 of Income Tax Act. While the return was not filed within time prescribed under section 139(1), it was filed before the extended deadline under section 139(4A). Following binding CBDT Circular No.173/193/2019, which directs rectification of section 143(1)(a) orders and related demands in such cases, ITAT set aside CIT(A)'s order. Matter remanded to CIT(A) for passing rectification order as per CBDT guidelines. The ruling establishes that belated returns filed within section 139(4A) timeline qualify for exemption, provided other conditions are met.
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