PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
The ITAT quashed the revisionary order under section 263, upholding the assessment order under section 143(3) as neither erroneous nor prejudicial to Revenue. The PCIT failed to demonstrate any material difference in facts or law for AY 2020-21 compared to AY 2018-19 regarding foreign tax credit under section 90 for income from the Philippines branch. The AO's acceptance of reconciliation and evidence was sufficient application of mind. Additionally, the deduction under section 80G for donations qualifying under statutory criteria was rightly allowed despite CSR obligations, as section 37(1) Explanation 2 does not negate section 80G claims. Revisionary interference was thus unsustainable, and the appeal was allowed.
The ITAT quashed the revisionary order under section 263, upholding the assessment order under section 143(3) as neither erroneous nor prejudicial to Revenue. The PCIT failed to demonstrate any material difference in facts or law for AY 2020-21 compared to AY 2018-19 regarding foreign tax credit under section 90 for income from the Philippines branch. The AO's acceptance of reconciliation and evidence was sufficient application of mind. Additionally, the deduction under section 80G for donations qualifying under statutory criteria was rightly allowed despite CSR obligations, as section 37(1) Explanation 2 does not negate section 80G claims. Revisionary interference was thus unsustainable, and the appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
