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).
Cash deposits during demonetisation were treated as unexplained as no genuine business need for holding large idle cash was shown. The tribunal upheld the Section 68 addition, stressing proof of necessity and cash retention.
While following binding High Court precedent on limitation, the Tribunal quashed the assessment order. Liberty was granted to revive the matter depending on the Supreme Court’s final decision.
The Supreme Court ruled that directions to modify tax software had no nexus with the individual dispute. Relief granted to the assessee under Section 205 was left undisturbed.
