The case examined whether a 2345-day delay could be condoned based on reasons like miscommunication and financial hardship. The Tribunal held that vague explanations and negligence do not qualify as sufficient cause, leading to dismissal of appeals.
The issue was whether CSR expenditure qualifies for deduction under section 80G. The Tribunal held that deduction is allowable as there is no specific prohibition except for certain funds.
CIT & Anr. Vs MPHASIS Limited (Supreme Court of India) The Supreme Court of India dismissed a Special Leave Petition (SLP) filed by the Revenue on the ground of an unexplained delay of 600 days. The Court noted that no satisfactory explanation had been provided to justify condonation of such delay and, accordingly, dismissed the […]
The issue involved limitation for initiating proceedings where no statutory time limit exists. The Court upheld that actions must still be within a reasonable period. The takeaway is that absence of explicit limitation does not permit indefinite action.
The Tribunal held that delayed verification of an e-filed return is only a procedural lapse. Deduction under Section 80P cannot be denied when the return was filed within the due date.
ITAT examined demonetisation cash deposits and accepted sales and withdrawals as valid sources. However, addition was partly sustained due to unsubstantiated claims like cash gifts.
The Tribunal held that disallowance of interest provision only increases business income, which remains eligible for Section 80P deduction. Hence, the addition was treated as tax-neutral and not taxable.
Gauhati High Court rules GSTR-1 vs GSTR-3B mismatch from clerical errors cannot trigger automatic tax recovery without Rule 88C process; ITC denial for FY 2018-19 invalid due to Section 16(5).
India cuts excise duty on petrol and diesel to offset global oil price surge amid war. Move aims to reduce fuel costs, curb inflation, and protect consumers and businesses.
The Tribunal held that absence of bills for agricultural sales cannot justify addition under Section 69A. Where cultivation and land ownership are undisputed, receipts cannot be treated as unexplained income.
