Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
In a limited scrutiny assessment selected through CASS, the Assessing Officer is confined to the specific issues for which scrutiny was initiated. Enquiry into matters outside those issues is permissible only after conversion into complete scrutiny with the prescribed approval. Because the addition was made beyond the selected scrutiny scope and no valid conversion was shown, the Tribunal held that the assessment had travelled beyond jurisdiction and the addition was unsustainable. The assessee's appeal was allowed.
In a limited scrutiny assessment selected through CASS, the Assessing Officer is confined to the specific issues for which scrutiny was initiated. Enquiry into matters outside those issues is permissible only after conversion into complete scrutiny with the prescribed approval. Because the addition was made beyond the selected scrutiny scope and no valid conversion was shown, the Tribunal held that the assessment had travelled beyond jurisdiction and the addition was unsustainable. The assessee's appeal was allowed.
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