Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
HC held that the delay in filing Form No. 9A was condoned under Section 119(2)(b) of the IT Act as a bona fide mistake arising from reliance on a misprint in a widely relied commercial bare act publication. The court found that the Assessing Officer ought to have condoned the delay, that the Petitioner did not derive any advantage from the delay, and that refusal would cause grave hardship. Consequently, the Petitioner is entitled to the benefit of Sections 11 and 12, and the denial of exemptions on account of delayed filing was set aside.
HC held that the delay in filing Form No. 9A was condoned under Section 119(2)(b) of the IT Act as a bona fide mistake arising from reliance on a misprint in a widely relied commercial bare act publication. The court found that the Assessing Officer ought to have condoned the delay, that the Petitioner did not derive any advantage from the delay, and that refusal would cause grave hardship. Consequently, the Petitioner is entitled to the benefit of Sections 11 and 12, and the denial of exemptions on account of delayed filing was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
