Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
The Tribunal remanded the interest disallowance linked to short-term capital gains because the assessee's additional evidence on loan utilisation had not been verified by the lower authorities, and the claim required factual examination before a fresh decision. The tax rate applicable to short-term capital gains from listed securities was also sent back, as it depended on the outcome of the primary computation issue. The section 80E deduction claim was similarly restored because supporting education-loan documents were produced at the appellate stage and had to be examined against the statutory requirements. The appeal was thus allowed for statistical purposes.
The Tribunal remanded the interest disallowance linked to short-term capital gains because the assessee's additional evidence on loan utilisation had not been verified by the lower authorities, and the claim required factual examination before a fresh decision. The tax rate applicable to short-term capital gains from listed securities was also sent back, as it depended on the outcome of the primary computation issue. The section 80E deduction claim was similarly restored because supporting education-loan documents were produced at the appellate stage and had to be examined against the statutory requirements. The appeal was thus allowed for statistical purposes.
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