Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
Quantification of weighted deduction under section 35(2AB) depended on the expenditure approved in Form 3CL, not on the assessee's basic eligibility for the deduction. The Tribunal held that Form 3CL had already been sent to the jurisdictional Assessing Officer and therefore could not be rejected as additional evidence in rectification proceedings. Reading Rule 6(7A) for the relevant assessment year, the Assessing Officer was required to take cognizance of the approved expenditure and recompute the deduction accordingly. The impugned order was set aside and the issue was restored for fresh quantification after giving the assessee a reasonable opportunity of hearing.
Quantification of weighted deduction under section 35(2AB) depended on the expenditure approved in Form 3CL, not on the assessee's basic eligibility for the deduction. The Tribunal held that Form 3CL had already been sent to the jurisdictional Assessing Officer and therefore could not be rejected as additional evidence in rectification proceedings. Reading Rule 6(7A) for the relevant assessment year, the Assessing Officer was required to take cognizance of the approved expenditure and recompute the deduction accordingly. The impugned order was set aside and the issue was restored for fresh quantification after giving the assessee a reasonable opportunity of hearing.
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