Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
ITAT allowed the appeal of the assessee, holding that denial of exemption u/s 11 on account of delayed filing or non-simultaneous uploading of the audit report in Form No.10B is impermissible where substantive statutory conditions for exemption are satisfied. The Tribunal determined the requirement to file Form No.10B with the return is procedural/directory, not mandatory, and technical discrepancies (including an incorrect entry of section 10(23C)(iv) instead of section 11) cannot defeat the assessee's substantive right to exemption. Consequently, the CPC and JCIT(A)'s actions assessing gross receipts as taxable income were set aside and the exemption u/s 11 was restored.
ITAT allowed the appeal of the assessee, holding that denial of exemption u/s 11 on account of delayed filing or non-simultaneous uploading of the audit report in Form No.10B is impermissible where substantive statutory conditions for exemption are satisfied. The Tribunal determined the requirement to file Form No.10B with the return is procedural/directory, not mandatory, and technical discrepancies (including an incorrect entry of section 10(23C)(iv) instead of section 11) cannot defeat the assessee's substantive right to exemption. Consequently, the CPC and JCIT(A)'s actions assessing gross receipts as taxable income were set aside and the exemption u/s 11 was restored.
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