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...
ITAT adjudicated a tax dispute involving surface rights and intangible asset depreciation claims. The tribunal partially allowed the assessee's appeal, permitting amortization of surface rights based on evidence that the mining rights acquisition did not confer tangible benefits to the transferor entity. Regarding depreciation on equity shares issued free of cost, the tribunal rejected the claim, finding no demonstrable business advantage or documentary proof of technical support. The tribunal sustained lower authorities' orders, dismissing the assessee's claim for depreciation on the purported intangible asset. The decision emphasized the necessity of substantive evidence to support tax deduction claims related to business rights and asset acquisitions.
ITAT adjudicated a tax dispute involving surface rights and intangible asset depreciation claims. The tribunal partially allowed the assessee's appeal, permitting amortization of surface rights based on evidence that the mining rights acquisition did not confer tangible benefits to the transferor entity. Regarding depreciation on equity shares issued free of cost, the tribunal rejected the claim, finding no demonstrable business advantage or documentary proof of technical support. The tribunal sustained lower authorities' orders, dismissing the assessee's claim for depreciation on the purported intangible asset. The decision emphasized the necessity of substantive evidence to support tax deduction claims related to business rights and asset acquisitions.
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