Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
HC allowed the petition challenging GST registration cancellation, following precedent in Tvl. Suguna Cutpiece Center's case. The court held that petitioners must be provided an opportunity to rectify statutory return non-compliance and revive their GST registration, thereby preventing automatic cancellation. This approach aims to balance regulatory compliance with enabling taxpayers to correct procedural deficiencies and minimize potential revenue loss to the government. The petition was consequently disposed of with directions for potential registration revival.
HC allowed the petition challenging GST registration cancellation, following precedent in Tvl. Suguna Cutpiece Center's case. The court held that petitioners must be provided an opportunity to rectify statutory return non-compliance and revive their GST registration, thereby preventing automatic cancellation. This approach aims to balance regulatory compliance with enabling taxpayers to correct procedural deficiencies and minimize potential revenue loss to the government. The petition was consequently disposed of with directions for potential registration revival.
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