Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
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Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
ITAT allowed the assessee's appeal for exemption u/s 10(23C)(vi) for AY 2017-18, determining that the amendment requiring return filing was not applicable during that assessment year. The tribunal found the department's denial of exemption incorrect, noting the assessee's justification for non-filing could not be effectively controverted. The ITAT directed the Assessing Officer to verify and grant the exemption, effectively overturning the lower authorities' decision and providing relief to the assessee based on the specific temporal applicability of the statutory amendment.
ITAT allowed the assessee's appeal for exemption u/s 10(23C)(vi) for AY 2017-18, determining that the amendment requiring return filing was not applicable during that assessment year. The tribunal found the department's denial of exemption incorrect, noting the assessee's justification for non-filing could not be effectively controverted. The ITAT directed the Assessing Officer to verify and grant the exemption, effectively overturning the lower authorities' decision and providing relief to the assessee based on the specific temporal applicability of the statutory amendment.
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