Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
ITAT allowed the appeal filed by the assessee-trust, holding that the earlier dismissal was based on a patent mistake in applying s.12AA. ITAT observed that the assessee already held a valid registration under s.12AA at the time of filing the return for the relevant assessment year, and the amended registration regime, effective from 01.04.2021, was inapplicable to that year. Further, the assessee had subsequently obtained registration under the amended provisions on 28.03.2022, reinforcing its eligible status. ITAT held that CIT(A) erred in dismissing the appeal for non-furnishing of a new registration number and misapplication of amended law. Consequently, ITAT directed the AO to delete the demand raised by CPC, thereby granting full relief to the assessee.
ITAT allowed the appeal filed by the assessee-trust, holding that the earlier dismissal was based on a patent mistake in applying s.12AA. ITAT observed that the assessee already held a valid registration under s.12AA at the time of filing the return for the relevant assessment year, and the amended registration regime, effective from 01.04.2021, was inapplicable to that year. Further, the assessee had subsequently obtained registration under the amended provisions on 28.03.2022, reinforcing its eligible status. ITAT held that CIT(A) erred in dismissing the appeal for non-furnishing of a new registration number and misapplication of amended law. Consequently, ITAT directed the AO to delete the demand raised by CPC, thereby granting full relief to the assessee.
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