Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
An intimation under return processing is not a regular assessment, so no opinion was formed and the change-of-opinion objection could not invalidate reopening; the reassessment quashment was set aside and the matter remanded for de novo appellate adjudication. On alleged bogus long-term capital gains from penny stock transactions, the Tribunal held that unrefuted documents showing purchase, demat holding and exchange sale, coupled with the absence of any specific material linking the assessee to entry operators, price rigging or exit providers, could not be displaced by suspicion or human probabilities alone; the additions for unexplained cash credit and related commission were deleted. The same reasoning applied to the later year, and the Revenue's appeal was dismissed.
An intimation under return processing is not a regular assessment, so no opinion was formed and the change-of-opinion objection could not invalidate reopening; the reassessment quashment was set aside and the matter remanded for de novo appellate adjudication. On alleged bogus long-term capital gains from penny stock transactions, the Tribunal held that unrefuted documents showing purchase, demat holding and exchange sale, coupled with the absence of any specific material linking the assessee to entry operators, price rigging or exit providers, could not be displaced by suspicion or human probabilities alone; the additions for unexplained cash credit and related commission were deleted. The same reasoning applied to the later year, and the Revenue's appeal was dismissed.
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