Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
The HC dismissed the revenue appeal and upheld the ITAT order directing registration under s.12AB of the IT Act. The court held that the Principal Commissioner/Commissioner must satisfy themselves as to the trust's objects and genuineness of activities under clause (a) r/w s.2(15) and record a written order of registration to be communicated to the applicant. Relying on the SC principle that a newly constituted trust may be registered on the basis of its objects even absent prior activity, the HC accepted the ITAT's finding that the assessee's objects are charitable and that denial of s.12AB registration based on actual activities was unsustainable; the appeal was dismissed.
The HC dismissed the revenue appeal and upheld the ITAT order directing registration under s.12AB of the IT Act. The court held that the Principal Commissioner/Commissioner must satisfy themselves as to the trust's objects and genuineness of activities under clause (a) r/w s.2(15) and record a written order of registration to be communicated to the applicant. Relying on the SC principle that a newly constituted trust may be registered on the basis of its objects even absent prior activity, the HC accepted the ITAT's finding that the assessee's objects are charitable and that denial of s.12AB registration based on actual activities was unsustainable; the appeal was dismissed.
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