PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Page of 4826
Press 'Enter' after typing page number.
1 to 20 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT upheld the validity of reassessment initiated under section 147, holding that subsequent CBDT Notification No. 3/2019 withdrawing approval of the donee institution, Bioved Research Society, with retrospective effect constituted fresh, tangible material indicating misuse of section 35(1)(ii) through accommodation entries. The AO's formation of belief that income had escaped assessment was found to be neither imaginary nor based on change of opinion. Consequently, the Tribunal sustained the disallowance of the assessee's Rs. 30 lakh donation and denial of deduction under section 35(1)(ii), deciding the appeal against the assessee.
ITAT upheld the validity of reassessment initiated under section 147, holding that subsequent CBDT Notification No. 3/2019 withdrawing approval of the donee institution, Bioved Research Society, with retrospective effect constituted fresh, tangible material indicating misuse of section 35(1)(ii) through accommodation entries. The AO's formation of belief that income had escaped assessment was found to be neither imaginary nor based on change of opinion. Consequently, the Tribunal sustained the disallowance of the assessee's Rs. 30 lakh donation and denial of deduction under section 35(1)(ii), deciding the appeal against the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
