Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Belated furnishing of a tax audit report is described as a technical or venial breach where the report was already available to, and considered by, the Assessing Officer before reassessment was completed. The note states that, where reassessment took account of the report and no addition was made, the delayed filing did not warrant penalty under section 271B. It records that the penalty was deleted because the procedural lapse did not affect the reassessment process.
Belated furnishing of a tax audit report is described as a technical or venial breach where the report was already available to, and considered by, the Assessing Officer before reassessment was completed. The note states that, where reassessment took account of the report and no addition was made, the delayed filing did not warrant penalty under section 271B. It records that the penalty was deleted because the procedural lapse did not affect the reassessment process.
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