Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
A High Court held that a beneficial CBDT circular issued under section 119(2)(b) for condonation of delay in filing prescribed forms must be applied to genuine and bona fide cases, even where the assessment year is not expressly named. The court found that the relevant circular was the one dated 18.11.2024, which addressed condonation of delay, and that omission of AY 2023-24 was not decisive because the circular was meant to remedy genuine hardship. Rejecting a narrow year-specific reading as anomalous and unjust, the court set aside the refusal order and remitted the matter for fresh consideration in accordance with law.
A High Court held that a beneficial CBDT circular issued under section 119(2)(b) for condonation of delay in filing prescribed forms must be applied to genuine and bona fide cases, even where the assessment year is not expressly named. The court found that the relevant circular was the one dated 18.11.2024, which addressed condonation of delay, and that omission of AY 2023-24 was not decisive because the circular was meant to remedy genuine hardship. Rejecting a narrow year-specific reading as anomalous and unjust, the court set aside the refusal order and remitted the matter for fresh consideration in accordance with law.
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