Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Page of 4788
Press 'Enter' after typing page number.
121 to 140 of 95752 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Bad-debt deduction after 1 April 1989 requires write-off in the accounts and satisfaction of the condition that the debt was considered in computing income; actual irrecoverability need not be established. The notes state that revision under section 263 is impermissible where the assessment record shows that the Assessing Officer examined the claim and supporting evidence. They also explain that reconciled contract receipts cannot be treated as understated merely because bank credits include mobilisation, material or other non-revenue advances. A reasoned assessment order is not required where documentary replies have been examined and accepted.
Bad-debt deduction after 1 April 1989 requires write-off in the accounts and satisfaction of the condition that the debt was considered in computing income; actual irrecoverability need not be established. The notes state that revision under section 263 is impermissible where the assessment record shows that the Assessing Officer examined the claim and supporting evidence. They also explain that reconciled contract receipts cannot be treated as understated merely because bank credits include mobilisation, material or other non-revenue advances. A reasoned assessment order is not required where documentary replies have been examined and accepted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
