The issue was whether TDS credit can be claimed by a person not named in the sale deed. ITAT held that TDS credit belongs only to the actual owners who executed the sale agreement.
The Tribunal upheld cancellation after finding that funding practices influenced editorial content and political narratives. The ruling confirms that such conduct constitutes specified violations warranting loss of charitable status.
The tribunal held that Section 41(1) applies only when a liability is actually remitted or ceases to exist. Mere passage of time or old outstanding balances cannot justify a deemed income addition.
The tribunal held that late filing of Form 10B is a procedural lapse and cannot defeat exemption under Section 11. If the audit report is available before assessment or rectification, exemption must be allowed.
The dispute involved additions of partners capital treated as unexplained cash credits. The Tribunal did not rule on merits but remanded the matter due to procedural violation by the appellate authority. It highlights that appellate orders must be reasoned and speaking.
The tribunal held that taxing the full sale consideration as short-term capital gain without allowing cost of acquisition is legally incorrect. Capital gains must be computed on net gains, not gross receipts.
Although the Revenue followed the new reassessment procedure, the notice was issued beyond the allowable time. The Tribunal set aside the reassessment as void ab initio.
The tribunal held that reassessment under Section 153C cannot stand without valid satisfaction as mandated by law. Failure to examine this jurisdictional issue vitiates the proceedings.
Courts below treated an agreement to sell as a conveyance due to possession with the buyer. The Supreme Court ruled that without express or implied surrender of tenancy, no deemed conveyance arises.
The tribunal held that estimating commission income at 1% without verifying the existence of a genuine Shroff business was legally unsustainable. The matter was remanded for fresh examination by the Assessing Officer.
