Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
An efficacious statutory appeal ordinarily bars recourse to Article 226, and the natural justice exception applies only where denial of hearing is shown on the facts. The Court found that the petitioner had been served with the show cause notice, given time to reply, and granted further extension, but filed no reply or material showing denial of hearing; the writ challenge was therefore not maintainable. It also held that completion of audit under Section 65 does not divest the proper officer of jurisdiction to initiate proceedings under Section 73, because the statutory scheme contemplates such action where audit reveals tax liability or irregular input tax credit. The writ petition was dismissed, with liberty to pursue the appellate remedy.
An efficacious statutory appeal ordinarily bars recourse to Article 226, and the natural justice exception applies only where denial of hearing is shown on the facts. The Court found that the petitioner had been served with the show cause notice, given time to reply, and granted further extension, but filed no reply or material showing denial of hearing; the writ challenge was therefore not maintainable. It also held that completion of audit under Section 65 does not divest the proper officer of jurisdiction to initiate proceedings under Section 73, because the statutory scheme contemplates such action where audit reveals tax liability or irregular input tax credit. The writ petition was dismissed, with liberty to pursue the appellate remedy.
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