Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Foreign tax credit under sections 90/90A was remitted for fresh verification because the assessee's USA tax return for Calendar Year 2023 was now available along with the earlier 2022 return. The Tribunal noted that the appellate authority had already directed verification and proportionate relief for the 2022 period, and that the complete foreign income and tax-paid details for the full financial year 2022-23 were therefore capable of examination. The matter was restored to the Assessing Officer for de novo adjudication after verifying the USA returns for 2022 and 2023 and granting relief as per law.
Foreign tax credit under sections 90/90A was remitted for fresh verification because the assessee's USA tax return for Calendar Year 2023 was now available along with the earlier 2022 return. The Tribunal noted that the appellate authority had already directed verification and proportionate relief for the 2022 period, and that the complete foreign income and tax-paid details for the full financial year 2022-23 were therefore capable of examination. The matter was restored to the Assessing Officer for de novo adjudication after verifying the USA returns for 2022 and 2023 and granting relief as per law.
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