Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
A power-generating undertaking may exercise the second proviso to rule 5(1A) option to claim depreciation under rule 5(1) and Appendix I through its return and disclosed computation, as no separate form or prescribed mode is required. A depreciation claim does not constitute furnishing inaccurate particulars where asset details, cost, use, rates and computation are fully disclosed and no primary fact, entry or asset is false or bogus. Voluntary revision before a specific depreciation query may support bona fides, even if made during assessment after the revised-return period. Explanation 1 to section 271(1)(c) does not apply where the taxpayer's explanation is substantiated, bona fide and accompanied by full disclosure of material facts.
A power-generating undertaking may exercise the second proviso to rule 5(1A) option to claim depreciation under rule 5(1) and Appendix I through its return and disclosed computation, as no separate form or prescribed mode is required. A depreciation claim does not constitute furnishing inaccurate particulars where asset details, cost, use, rates and computation are fully disclosed and no primary fact, entry or asset is false or bogus. Voluntary revision before a specific depreciation query may support bona fides, even if made during assessment after the revised-return period. Explanation 1 to section 271(1)(c) does not apply where the taxpayer's explanation is substantiated, bona fide and accompanied by full disclosure of material facts.
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