Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
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Broken period amount received on transfer of non-convertible debentures retained the character of interest, even though it was paid by the purchaser rather than the issuer, because the NCDs were transferred on a cum-interest basis and the amount represented accrued return for the intervening period. The Tribunal held that the source of payment did not change the intrinsic character of the receipt. The amount was therefore assessable as interest under the head 'Income from Other Sources', and the assessee's appeal failed.
Broken period amount received on transfer of non-convertible debentures retained the character of interest, even though it was paid by the purchaser rather than the issuer, because the NCDs were transferred on a cum-interest basis and the amount represented accrued return for the intervening period. The Tribunal held that the source of payment did not change the intrinsic character of the receipt. The amount was therefore assessable as interest under the head 'Income from Other Sources', and the assessee's appeal failed.
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