Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
Customs transaction value rejection requires communicated reasonable doubt, while written reassessment acceptance preserves challenges to enhanced val...
Challenge-mechanism compliance clarifications permitted, while unilateral revised resolution plans may be refused under creditors' commercial discreti...
Section 14A disallowance cannot be added to book profit for MAT computation under section 115JB where binding co-ordinate Bench precedent has already settled the issue. The HC followed its earlier decision in Gujarat Fluorochemicals Ltd. and the same view adopted in the taxpayer's own case, and held that no addition to book profit can be made on the basis of the section 14A disallowance. On that settled position, the Revenue's proposed questions were treated as concluded against it, and the tax appeal was dismissed for want of any substantial question of law.
Section 14A disallowance cannot be added to book profit for MAT computation under section 115JB where binding co-ordinate Bench precedent has already settled the issue. The HC followed its earlier decision in Gujarat Fluorochemicals Ltd. and the same view adopted in the taxpayer's own case, and held that no addition to book profit can be made on the basis of the section 14A disallowance. On that settled position, the Revenue's proposed questions were treated as concluded against it, and the tax appeal was dismissed for want of any substantial question of law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4929 
