Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
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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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