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...
A reassessment based on alleged escapement of interest income could not be sustained when no addition was ultimately made on that recorded ground and the Assessing Officer instead disallowed loan processing fees, an item outside the reopening reasons. Applying Jet Airways, the Tribunal held that once the recorded basis for reopening failed, the officer could not independently assess a different issue without a fresh reopening notice. The addition was therefore deleted for want of jurisdictional foundation, and the assessee's appeal was allowed.
A reassessment based on alleged escapement of interest income could not be sustained when no addition was ultimately made on that recorded ground and the Assessing Officer instead disallowed loan processing fees, an item outside the reopening reasons. Applying Jet Airways, the Tribunal held that once the recorded basis for reopening failed, the officer could not independently assess a different issue without a fresh reopening notice. The addition was therefore deleted for want of jurisdictional foundation, and the assessee's appeal was allowed.
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