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...
A scrutiny notice need not conform to a CBDT-prescribed format where the Income-tax Act and Rules do not mandate that format. The essential requirements are timely issue by the competent authority, notice that the return was selected for scrutiny, and an opportunity to provide supporting evidence. Limited, Complete and Manual Scrutiny are administrative classifications, and failure to disclose the category is not a jurisdictional defect. Although CBDT instructions bind departmental authorities administratively, their breach invalidates proceedings only where they supplement a statutory condition precedent or cause prejudice. A curable format irregularity is protected by section 292B when the notice serves its statutory purpose and no prejudice is shown.
A scrutiny notice need not conform to a CBDT-prescribed format where the Income-tax Act and Rules do not mandate that format. The essential requirements are timely issue by the competent authority, notice that the return was selected for scrutiny, and an opportunity to provide supporting evidence. Limited, Complete and Manual Scrutiny are administrative classifications, and failure to disclose the category is not a jurisdictional defect. Although CBDT instructions bind departmental authorities administratively, their breach invalidates proceedings only where they supplement a statutory condition precedent or cause prejudice. A curable format irregularity is protected by section 292B when the notice serves its statutory purpose and no prejudice is shown.
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