The government outlined year-wise collections and utilisation of major cesses and surcharges, confirming they are credited to the Consolidated Fund and used for designated development and welfare purposes.
The addition was struck down as income was taxed before execution of sale deeds. Advances shown as liabilities were correctly offered to tax only when ownership passed to buyers.
Indias Digital Rupee is a legal-tender digital form of cash issued by the central bank. The key takeaway is that it combines cash-like features with instant digital settlement and zero usage fees.
The Government reaffirmed that HUFs are assessable units solely for income tax purposes and lack corporate status. They cannot collect public money or operate as NBFCs or chit funds.
Deductions under Sections 54B and 54F were denied without examining crucial evidence. The tribunal remanded the matter for fresh adjudication after considering all documents and legal issues.
UIDAI has removed Aadhaar numbers of deceased persons to prevent fraud and unauthorized benefit claims, reinforcing database integrity through continuous sanitization.
Authorities found Dubai property acquisitions by Indian residents routed through hawala, leading to action for violations of FEMA and seizure of equivalent assets in India.
Whether interest can be demanded without being specified in the show cause notice. Ruling & Takeaway: The Court held that interest not quantified in the notice cannot be added later, reaffirming strict compliance with Section 75(7).
The tax system overlooks informal workers who pay indirectly but lack recognition. True equity demands inclusion, not invisibility.
Income earned from sanitation, gardening, and waste management contracts was treated as charitable. The tribunal held such receipts furthered environmental objects under Section 2(15).
