Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
ITAT set aside the lower authorities' orders and remanded the matter to the file of the AO for verification of whether the anonymized assessee holds valid registration under s.12A and has complied with statutory conditions (including audit/reporting requirements); if so, AO is directed to allow exemption under s.12A. The Tribunal found denial of s.10(23C) relief to be unsustainable where the assessee had not claimed s.10(23C) and thus was not required to file Form 10BB, distinguishing the properly filed Form 10B for s.12A. The application under s.154 and prior rejections by the CPC were set aside insofar as they precluded the AO's fresh verification. Appeal allowed for statistical purposes.
ITAT set aside the lower authorities' orders and remanded the matter to the file of the AO for verification of whether the anonymized assessee holds valid registration under s.12A and has complied with statutory conditions (including audit/reporting requirements); if so, AO is directed to allow exemption under s.12A. The Tribunal found denial of s.10(23C) relief to be unsustainable where the assessee had not claimed s.10(23C) and thus was not required to file Form 10BB, distinguishing the properly filed Form 10B for s.12A. The application under s.154 and prior rejections by the CPC were set aside insofar as they precluded the AO's fresh verification. Appeal allowed for statistical purposes.
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