Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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Reassessment proceedings initiated by a notice under section 148 treat the return filed in response as a return under section 139. A notice under section 143(2) is required only where the Assessing Officer considers verification necessary or expedient; its absence does not by itself invalidate reassessment, particularly where the taxpayer participated in the proceedings and section 292BB applies. Additions made during reassessment must retain a direct nexus with the recorded reasons for reopening. Where a claimed business loss is set off against unreported non-compete income forming the basis for reopening, examination of that loss is connected to the recorded reasons; the substantive justification remains examinable in statutory appeal.
Reassessment proceedings initiated by a notice under section 148 treat the return filed in response as a return under section 139. A notice under section 143(2) is required only where the Assessing Officer considers verification necessary or expedient; its absence does not by itself invalidate reassessment, particularly where the taxpayer participated in the proceedings and section 292BB applies. Additions made during reassessment must retain a direct nexus with the recorded reasons for reopening. Where a claimed business loss is set off against unreported non-compete income forming the basis for reopening, examination of that loss is connected to the recorded reasons; the substantive justification remains examinable in statutory appeal.
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