PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
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ITAT adjudicated a tax exemption dispute involving an educational institution. The tribunal held that the assessee was not required to file income tax returns since total income did not exceed the non-taxable threshold. The returns filed under Section 148 were deemed valid, and the lower authorities erred in disallowing exemption under Section 10(23C)(iiiad). The tribunal found no legal impediment to the exemption claim, noting the assessee's compliance with procedural requirements and the absence of specific time limitations during the relevant assessment years. Consequently, the assessee's appeal was allowed, reinstating the tax exemption and overturning the previous denials by lower tax authorities.
ITAT adjudicated a tax exemption dispute involving an educational institution. The tribunal held that the assessee was not required to file income tax returns since total income did not exceed the non-taxable threshold. The returns filed under Section 148 were deemed valid, and the lower authorities erred in disallowing exemption under Section 10(23C)(iiiad). The tribunal found no legal impediment to the exemption claim, noting the assessee's compliance with procedural requirements and the absence of specific time limitations during the relevant assessment years. Consequently, the assessee's appeal was allowed, reinstating the tax exemption and overturning the previous denials by lower tax authorities.
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