Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
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Section 206AA read with Rule 114AAA(3) applied where the seller's PAN was inoperative on the date of property purchase because it was not linked with Aadhaar, so higher TDS was prima facie attracted. However, the Tribunal held that the buyer should not bear higher TDS if evidence shows the seller disclosed the transaction in her return and paid due taxes, following the principle underlying section 40(a)(ia) and section 201(1). The demand was therefore not finally sustained and the matter was remitted for de novo verification of the seller's tax disclosure and payment.
Section 206AA read with Rule 114AAA(3) applied where the seller's PAN was inoperative on the date of property purchase because it was not linked with Aadhaar, so higher TDS was prima facie attracted. However, the Tribunal held that the buyer should not bear higher TDS if evidence shows the seller disclosed the transaction in her return and paid due taxes, following the principle underlying section 40(a)(ia) and section 201(1). The demand was therefore not finally sustained and the matter was remitted for de novo verification of the seller's tax disclosure and payment.
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