Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Where an assessee, though assessed as an AOP, is a charitable trust that has surrendered its registration under s.12A and does not claim exemption under s.11, but carries on charitable activities for the benefit of the public at large and has no determinate members, it satisfies the conditions of CBDT Circular No. 320 dated 11-01-1982 for taxation at normal AOP slab rates. Following the earlier decision in the assessee's own case on the same issue, levy of tax at the maximum marginal rate along with surcharge was held inapplicable, and the assessee was directed to be taxed at the normal slab rates applicable to an AOP; the appeal was allowed. - ITAT
Where an assessee, though assessed as an AOP, is a charitable trust that has surrendered its registration under s.12A and does not claim exemption under s.11, but carries on charitable activities for the benefit of the public at large and has no determinate members, it satisfies the conditions of CBDT Circular No. 320 dated 11-01-1982 for taxation at normal AOP slab rates. Following the earlier decision in the assessee's own case on the same issue, levy of tax at the maximum marginal rate along with surcharge was held inapplicable, and the assessee was directed to be taxed at the normal slab rates applicable to an AOP; the appeal was allowed. - ITAT
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