Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Whether the assessee qualified as an Urban Local Body for exemption under section 10(20) was the primary issue; the Tribunal relied on subsequent assessment-year records showing the Revenue had dropped reassessment proceedings after recording that the assessee qualified as a local authority, treating those administrative actions and available materials as determinative. Applying that principle, the Tribunal held the assessee entitled to exemption and set aside additions made by the AO and affirmed by the CIT(A), deleting the assessed income for the relevant year and granting consequential relief to the assessee.
Whether the assessee qualified as an Urban Local Body for exemption under section 10(20) was the primary issue; the Tribunal relied on subsequent assessment-year records showing the Revenue had dropped reassessment proceedings after recording that the assessee qualified as a local authority, treating those administrative actions and available materials as determinative. Applying that principle, the Tribunal held the assessee entitled to exemption and set aside additions made by the AO and affirmed by the CIT(A), deleting the assessed income for the relevant year and granting consequential relief to the assessee.
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