Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Penalty under section 270A could not be sustained where the assessee had filed Form No. 68 seeking immunity under section 270AA(2) and the Revenue failed to show that the application had been decided. The ITAT restored the matter to the Assessing Officer to first dispose of the immunity request in accordance with law; only if immunity is rejected may penalty proceedings be initiated afresh. For the later year, where immunity under section 270AA(4) had already been granted, the subsequent penalty order was held unsustainable and was set aside.
Penalty under section 270A could not be sustained where the assessee had filed Form No. 68 seeking immunity under section 270AA(2) and the Revenue failed to show that the application had been decided. The ITAT restored the matter to the Assessing Officer to first dispose of the immunity request in accordance with law; only if immunity is rejected may penalty proceedings be initiated afresh. For the later year, where immunity under section 270AA(4) had already been granted, the subsequent penalty order was held unsustainable and was set aside.
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