Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Capital gains on transfers of old immovable properties should not be computed by mechanically treating acquisition cost as nil merely because historical records are incomplete. Statutory deductions for acquisition, improvement and transfer expenditure remain relevant, and fair market value at the statutory base date may be used where applicable. Reverse indexation or a time-gap method may help estimate historical value, subject to verification of guidance value, locality, property characteristics, inflation index, enhancement and calculations; the correct cost and capital gains must then be recomputed. Interest under section 234A is compensatory and cannot apply to delay that is not legally attributable to the taxpayer. Where no valid return could legally be filed before reassessment notice, that intervening period should be excluded under lex non cogit ad impossibilia.
Capital gains on transfers of old immovable properties should not be computed by mechanically treating acquisition cost as nil merely because historical records are incomplete. Statutory deductions for acquisition, improvement and transfer expenditure remain relevant, and fair market value at the statutory base date may be used where applicable. Reverse indexation or a time-gap method may help estimate historical value, subject to verification of guidance value, locality, property characteristics, inflation index, enhancement and calculations; the correct cost and capital gains must then be recomputed. Interest under section 234A is compensatory and cannot apply to delay that is not legally attributable to the taxpayer. Where no valid return could legally be filed before reassessment notice, that intervening period should be excluded under lex non cogit ad impossibilia.
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