Explains how EDPMS enables real-time tracking of shipments and payments, ensuring quicker fund realisation for exporters.
Revenue counted limitation from the third-party search date, while the assessee argued it should start from document handover. ITAT Delhi agreed, holding the assessment outside the six-year period, thereby voiding it.
Explains correct reporting of taxable turnover in GSTR-9 and highlights the key takeaway—actual annual turnover must be accurately reflected despite return mismatches.
Explains when overseas real estate investment is permitted and highlights the key takeaway—funding, structure, and disclosure matter as much as the purchase itself.
यह लेख बताता है कि EDPMS कैसे निर्यात भुगतान की निगरानी करता है और समय पर अनुपालन क्यों आवश्यक है।
The Tribunal found that satisfaction under Section 153C was recorded long after the search and document transfer. Applying binding judicial precedent, ITAT ruled that the assessment was barred by limitation and therefore null and void.
The issue was whether accumulated income could be taxed merely because it was not spent exactly for the purpose stated in Form-10. ITAT Delhi held that as long as funds are applied toward charitable educational objects, technical lapses or non-intimation to the AO cannot defeat exemption under Section 11.
The Tribunal found that alleged cash payments lacked any agreement, bank trails, or confirmation from recipients, making the addition legally untenable. ITAT emphasized adherence to evidentiary standards under Section 65B and deleted the addition entirely.
Gauhati High Court held that writ petition is not maintainable due to availability of alternative efficacious remedy under the provisions of Section 85 of the Finance Act, 1994 before appellate authority. Accordingly, writ petition dismissed.
Jaipur Tribunal observed that the son had no independent income, and the purchase was made solely from the assessee’s funds. Consequently, restriction of exemption to 50% by the CIT(A) was set aside, confirming full Section 54F relief.
