Cash routed to non-existent firm deemed proceeds of crime; laundered funds and properties attachable, provisional attachments confirmed; two accounts ...
Continuation of Section 73 service-tax proceedings after provider's death (construing s.65(7)) - held to abate; posthumous OIO and recoveries invalida...
An assessee governed by section 10(23C)(iv) could not be denied exemption for non-filing of Form 10B because the applicable audit report was Form 10BB. The Tribunal noted that exemption had been consistently claimed and allowed in preceding and succeeding years on the same basis, making the denial premised on Form 10B erroneous. On that footing, no valid basis existed to refuse exemption, so the lower authorities' orders were set aside and the AO was directed to allow the claim.
An assessee governed by section 10(23C)(iv) could not be denied exemption for non-filing of Form 10B because the applicable audit report was Form 10BB. The Tribunal noted that exemption had been consistently claimed and allowed in preceding and succeeding years on the same basis, making the denial premised on Form 10B erroneous. On that footing, no valid basis existed to refuse exemption, so the lower authorities' orders were set aside and the AO was directed to allow the claim.
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