Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
ITAT upheld the CIT(A)'s decision, allowing deductions under sections 80P(2)(c) and 80P(2)(d) for a cooperative society. The tribunal confirmed the legitimacy of commission income from MSEDCL bill collection and locker rent charges, finding the expenses directly attributable to income and verified through independent audit. Regarding cash deposits during demonetization, ITAT validated the society's documentation, correlating bank statements with MSEDCL collection reports and government circulars. The tribunal found no intentional misstatement and accepted the society's evidence of legitimate cash transactions. Ultimately, the decision was rendered in favor of the assessee, rejecting the revenue's contentions.
ITAT upheld the CIT(A)'s decision, allowing deductions under sections 80P(2)(c) and 80P(2)(d) for a cooperative society. The tribunal confirmed the legitimacy of commission income from MSEDCL bill collection and locker rent charges, finding the expenses directly attributable to income and verified through independent audit. Regarding cash deposits during demonetization, ITAT validated the society's documentation, correlating bank statements with MSEDCL collection reports and government circulars. The tribunal found no intentional misstatement and accepted the society's evidence of legitimate cash transactions. Ultimately, the decision was rendered in favor of the assessee, rejecting the revenue's contentions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
