Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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Under the second proviso to Section 25-A(1), a rectification application received by the Assessing Authority and not rejected within sixty days is deemed allowed by legal fiction, and the later rectification order cannot override that statutory effect. The High Court held that the assessee's application received on 22.01.2010 stood allowed on expiry of sixty days, rendering the subsequent rectification and all consequential revisional, fresh assessment, refund and appellate proceedings without jurisdiction. On refund interest, the Court held that the right under Section 13-A accrued after expiry of ninety days from the deemed rectification date, and the assessee was entitled to interest at 6% per annum for the determined delay period.
Under the second proviso to Section 25-A(1), a rectification application received by the Assessing Authority and not rejected within sixty days is deemed allowed by legal fiction, and the later rectification order cannot override that statutory effect. The High Court held that the assessee's application received on 22.01.2010 stood allowed on expiry of sixty days, rendering the subsequent rectification and all consequential revisional, fresh assessment, refund and appellate proceedings without jurisdiction. On refund interest, the Court held that the right under Section 13-A accrued after expiry of ninety days from the deemed rectification date, and the assessee was entitled to interest at 6% per annum for the determined delay period.
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