Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
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Condonation of a 30-day delay in furnishing Form No. 10B for charitable-exemption purposes may be granted under section 119(2)(b) where refusal would cause genuine hardship. Genuine hardship must be construed liberally, with substantial justice preferred over technical non-compliance, absent deliberate delay, culpable negligence or mala fides. A bona fide misunderstanding of an advanced filing due date during the COVID-19 period, coupled with filing before the extended return due date, supported condonation. A pending condonation application did not require the charitable institution to await its disposal. Form No. 10B was treated as timely filed, and the return was to be processed accordingly.
Condonation of a 30-day delay in furnishing Form No. 10B for charitable-exemption purposes may be granted under section 119(2)(b) where refusal would cause genuine hardship. Genuine hardship must be construed liberally, with substantial justice preferred over technical non-compliance, absent deliberate delay, culpable negligence or mala fides. A bona fide misunderstanding of an advanced filing due date during the COVID-19 period, coupled with filing before the extended return due date, supported condonation. A pending condonation application did not require the charitable institution to await its disposal. Form No. 10B was treated as timely filed, and the return was to be processed accordingly.
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