Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Deduction under s.36(1)(viii) was allowed as the assessee's long-term financing of renewable energy projects qualified as "development of infrastructure facility" under the "eligible business" definition, and post-01.04.2000 no CBDT approval was required; consistency from later years also supported eligibility. Recharacterization of various receipts as "income from other sources" was rejected since interest on deposits and staff loans, service/consortium fees, swap gains, refunds/write-backs and related miscellaneous items were inextricably linked to the financing business or taxable as business income u/s 41(1); accordingly assessed as business income. Disallowance u/s 14A was deleted for want of AO's recorded satisfaction and absence of exempt income. Depreciation was allowed on beneficial ownership. Disallowance u/s 40(a)(ia) for short TDS deduction was held inapplicable. - ITAT
Deduction under s.36(1)(viii) was allowed as the assessee's long-term financing of renewable energy projects qualified as "development of infrastructure facility" under the "eligible business" definition, and post-01.04.2000 no CBDT approval was required; consistency from later years also supported eligibility. Recharacterization of various receipts as "income from other sources" was rejected since interest on deposits and staff loans, service/consortium fees, swap gains, refunds/write-backs and related miscellaneous items were inextricably linked to the financing business or taxable as business income u/s 41(1); accordingly assessed as business income. Disallowance u/s 14A was deleted for want of AO's recorded satisfaction and absence of exempt income. Depreciation was allowed on beneficial ownership. Disallowance u/s 40(a)(ia) for short TDS deduction was held inapplicable. - ITAT
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