Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Section 143(1) processing may continue after issuance of a scrutiny notice under section 143(2) for returns from assessment years commencing on or after 1 April 2017. The note explains that merger is issue-specific: only matters actually examined and decided in subsequent scrutiny merge, so unexamined processing adjustments remain separate matters arising from the intimation. It also states that an Assessing Officer need not revisit CPC adjustments merely because scrutiny follows. Cross-charged ESOP costs reimbursed by an Indian subsidiary to its foreign parent are described as employee compensation incurred wholly and exclusively for business, rather than capital expenditure, where the subsidiary neither issues shares nor acquires a capital asset.
Section 143(1) processing may continue after issuance of a scrutiny notice under section 143(2) for returns from assessment years commencing on or after 1 April 2017. The note explains that merger is issue-specific: only matters actually examined and decided in subsequent scrutiny merge, so unexamined processing adjustments remain separate matters arising from the intimation. It also states that an Assessing Officer need not revisit CPC adjustments merely because scrutiny follows. Cross-charged ESOP costs reimbursed by an Indian subsidiary to its foreign parent are described as employee compensation incurred wholly and exclusively for business, rather than capital expenditure, where the subsidiary neither issues shares nor acquires a capital asset.
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