Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
ITAT allowed the assessee's appeal on two key grounds: (1) No disallowance under Section 40(a)(ia) was warranted since the payee offered the interest income to tax in their return, consistent with Supreme Court precedent; (2) Deduction under Section 80IB/80IA was permissible despite not being initially claimed in the original return, with the appellate authority empowered to consider such claims. The tribunal set aside the lower authority's order and directed the Assessing Officer to delete the addition and allow the deduction, effectively providing relief to the assessee on both disputed issues.
ITAT allowed the assessee's appeal on two key grounds: (1) No disallowance under Section 40(a)(ia) was warranted since the payee offered the interest income to tax in their return, consistent with Supreme Court precedent; (2) Deduction under Section 80IB/80IA was permissible despite not being initially claimed in the original return, with the appellate authority empowered to consider such claims. The tribunal set aside the lower authority's order and directed the Assessing Officer to delete the addition and allow the deduction, effectively providing relief to the assessee on both disputed issues.
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