The Tribunal held that interest earned by a co-operative society from investments with co-operative banks falls within Section 80P(2)(d). Such income is deductible, subject to verification of the source and bifurcation.
Revised CPE requirements introduce age-wise slabs, streamlined exemptions, and a phased compliance mechanism with clear consequences for defaults.
Cash deposits followed by regular transfers to the telecom operator established a clear business cycle. The ruling confirms that explained business receipts cannot be treated as unexplained cash.
The ITAT held that an assessment made in the name of an amalgamated company is void ab initio, even where proceedings continued after merger intimation.
The Tribunal held that a Section 148A(d) order passed by a jurisdictional AO after the faceless notification is without legal authority. Any reassessment founded on such an order is void for want of jurisdiction.
The Tribunal ruled that post-notification reassessment notices must strictly follow the faceless assessment framework. Issuance by a jurisdictional AO renders the notice without authority and the reassessment unsustainable.
ROC held that filing an AOC-4 with an incorrect AGM date constitutes a completed default. Subsequent rectification or marking the form as defective does not erase penalty liability.
ROC held that correcting an e-form later does not nullify the original violation. Companies and signatories remain liable for filing inaccurate statutory information.
This case explains that errors in mandatory e-forms, including incorrect AGM details, amount to statutory non-compliance. Both the company and the authorised signatory were penalised under Section 450.
IBBI held that continuous membership of a Registered Valuers Organisation is mandatory. Once expelled by the RVO, a valuer becomes ineligible to continue registration.
