PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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Statutory exemption under section 10(26AAB) for an Agricultural Produce Marketing Committee could not be denied merely because the PAN reflected an incorrect status as a trust. The ITAT held that the assessee's true character as an Agricultural Produce Marketing Committee was undisputed, and a mismatched PAN entry was not determinative of the legal position or a basis to tax otherwise exempt income. On that footing, the assessment orders were set aside on merits, the AO was directed to compute total income at nil, and the reopening grounds were left undecided because no taxable income survived.
Statutory exemption under section 10(26AAB) for an Agricultural Produce Marketing Committee could not be denied merely because the PAN reflected an incorrect status as a trust. The ITAT held that the assessee's true character as an Agricultural Produce Marketing Committee was undisputed, and a mismatched PAN entry was not determinative of the legal position or a basis to tax otherwise exempt income. On that footing, the assessment orders were set aside on merits, the AO was directed to compute total income at nil, and the reopening grounds were left undecided because no taxable income survived.
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