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...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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The HC held that the 30-day period prescribed under Section 62(2) for belated filing of returns is directory, not mandatory. Notices under Section 46 issued for defaults in filing monthly returns under Section 39 were valid, requiring the assessee to file within 15 days or face assessment to the best of the officer's judgment. Under Section 62(1), the assessing officer may pass assessment orders within five years from the date specified under Section 44 for annual returns, with no prohibition on early assessment. Notices under Section 46 for default in filing annual returns can only be issued after December 31 following the financial year's end, making Section 62 procedures inapplicable to annual return defaults. The appeal was accordingly disposed of.
The HC held that the 30-day period prescribed under Section 62(2) for belated filing of returns is directory, not mandatory. Notices under Section 46 issued for defaults in filing monthly returns under Section 39 were valid, requiring the assessee to file within 15 days or face assessment to the best of the officer's judgment. Under Section 62(1), the assessing officer may pass assessment orders within five years from the date specified under Section 44 for annual returns, with no prohibition on early assessment. Notices under Section 46 for default in filing annual returns can only be issued after December 31 following the financial year's end, making Section 62 procedures inapplicable to annual return defaults. The appeal was accordingly disposed of.
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