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...
Denial of the concessional tax regime under s. 115BAC solely for late filing of Form 10IE was held unsustainable where the assessee had opted for the new regime, filed Form 10IE along with the revised return, and the form was available to the AO during assessment. Relying on coordinate bench decisions treating the timing requirement for Form 10IE as directory rather than mandatory, it was held that substantial compliance is met if the form is on record at the time of assessment and the benefit cannot be refused on a technical lapse. The AO was directed to consider Form 10IE and grant the lower tax rates; the appeal was allowed. - ITAT
Denial of the concessional tax regime under s. 115BAC solely for late filing of Form 10IE was held unsustainable where the assessee had opted for the new regime, filed Form 10IE along with the revised return, and the form was available to the AO during assessment. Relying on coordinate bench decisions treating the timing requirement for Form 10IE as directory rather than mandatory, it was held that substantial compliance is met if the form is on record at the time of assessment and the benefit cannot be refused on a technical lapse. The AO was directed to consider Form 10IE and grant the lower tax rates; the appeal was allowed. - ITAT
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