NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Foreign contribution disclosed in the books and in the return of income could not be taxed merely because it was entered in Schedule-AI instead of Schedule-VC. The Tribunal held that there was no suppression of receipt, and the defect was only an inadvertent disclosure error in the wrong schedule. Denial of the charitable exemption claim solely on the ground that a revised return was not filed was unsustainable. The Revenue cannot collect tax beyond what is lawfully due merely because of an assessee's mistake in reporting. The impugned addition was deleted.
Foreign contribution disclosed in the books and in the return of income could not be taxed merely because it was entered in Schedule-AI instead of Schedule-VC. The Tribunal held that there was no suppression of receipt, and the defect was only an inadvertent disclosure error in the wrong schedule. Denial of the charitable exemption claim solely on the ground that a revised return was not filed was unsustainable. The Revenue cannot collect tax beyond what is lawfully due merely because of an assessee's mistake in reporting. The impugned addition was deleted.
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