Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Best judgment assessment in a civil contract business must rest on a fair estimate with nexus to available material; a flat 15 per cent profit rate was found arbitrary on the facts, and business income was directed to be recomputed at 7 per cent of turnover. The Tribunal also held that claims for Chapter VI-A deductions and credits for TDS and self-assessment tax could not be decided on the existing record because supporting documents and reconciliations were incomplete, so the matter was remitted for verification and grant of eligible relief in accordance with law.
Best judgment assessment in a civil contract business must rest on a fair estimate with nexus to available material; a flat 15 per cent profit rate was found arbitrary on the facts, and business income was directed to be recomputed at 7 per cent of turnover. The Tribunal also held that claims for Chapter VI-A deductions and credits for TDS and self-assessment tax could not be decided on the existing record because supporting documents and reconciliations were incomplete, so the matter was remitted for verification and grant of eligible relief in accordance with law.
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