Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Belated filing of the audit report in Form No.10B raised the legal issue of condonation of delay under Section 119(2)(b); the HC applied the principle that bona fide reasons and pandemic-related regulatory extensions justify condonation and considered genuine hardship to the assessee from denial of exemption under Section 11. The court found COVID-19 disruptions and timely extensions by authorities established bona fides, held that failure to condone would cause genuine hardship, quashed the rejection of the condonation application and directed reprocessing of the return for assessment year 2020-2021.
Belated filing of the audit report in Form No.10B raised the legal issue of condonation of delay under Section 119(2)(b); the HC applied the principle that bona fide reasons and pandemic-related regulatory extensions justify condonation and considered genuine hardship to the assessee from denial of exemption under Section 11. The court found COVID-19 disruptions and timely extensions by authorities established bona fides, held that failure to condone would cause genuine hardship, quashed the rejection of the condonation application and directed reprocessing of the return for assessment year 2020-2021.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
