Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
Direct assessment of a beneficiary under representative assessee provisions does not dispense with prior determination of the trust's income or loss. The Tribunal found that, where the trust was created by a duly executed instrument, its trustees had to be assessed in that representative capacity and the alleged losses first had to be examined, verified and quantified under the Act. As no return was filed and no verification was made, the beneficiary's loss claim was set aside and remanded for fresh determination.
Direct assessment of a beneficiary under representative assessee provisions does not dispense with prior determination of the trust's income or loss. The Tribunal found that, where the trust was created by a duly executed instrument, its trustees had to be assessed in that representative capacity and the alleged losses first had to be examined, verified and quantified under the Act. As no return was filed and no verification was made, the beneficiary's loss claim was set aside and remanded for fresh determination.
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