Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Reassessment notices issued more than three years after the relevant assessment year require approval under section 151(ii) from the specified senior authorities; approval by a Principal Commissioner is described as incompetent. The notes state that a later proviso to section 151 cannot retrospectively exclude the reply period under section 148A(b), resulting in invalidation of the reassessment notice and consequential reassessment for the stated year. They further address section 80P deduction: after condonation of delayed return filing, the deduction claim, including interest earned from a co-operative bank, is to be reconsidered by the Assessing Officer, with interest income directed to be allowed if earned from that bank.
Reassessment notices issued more than three years after the relevant assessment year require approval under section 151(ii) from the specified senior authorities; approval by a Principal Commissioner is described as incompetent. The notes state that a later proviso to section 151 cannot retrospectively exclude the reply period under section 148A(b), resulting in invalidation of the reassessment notice and consequential reassessment for the stated year. They further address section 80P deduction: after condonation of delayed return filing, the deduction claim, including interest earned from a co-operative bank, is to be reconsidered by the Assessing Officer, with interest income directed to be allowed if earned from that bank.
Note: It is a system-generated summary and is for quick reference only.
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