Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
The ITAT allowed the disallowance under section 40A(9) regarding payments to an educational society, holding such expenses as statutory obligations under the NCWA and not disallowable employee welfare expenses, following the jurisdictional High Court's precedent. The claim for investment allowance under section 32AC was denied, affirming that power generation activities do not qualify for this benefit. The disallowance under section 40(a)(ia) for TDS on interest deposited in court was deleted, as the assessee was not liable for TDS until actual payment to recipients. Expenses on abandoned coal mine development were held to be revenue in nature and allowable. Depreciation at 15% was upheld, recognizing mine-related infrastructure as plant and machinery.
The ITAT allowed the disallowance under section 40A(9) regarding payments to an educational society, holding such expenses as statutory obligations under the NCWA and not disallowable employee welfare expenses, following the jurisdictional High Court's precedent. The claim for investment allowance under section 32AC was denied, affirming that power generation activities do not qualify for this benefit. The disallowance under section 40(a)(ia) for TDS on interest deposited in court was deleted, as the assessee was not liable for TDS until actual payment to recipients. Expenses on abandoned coal mine development were held to be revenue in nature and allowable. Depreciation at 15% was upheld, recognizing mine-related infrastructure as plant and machinery.
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