Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
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Agricultural income from date sales cannot be partly treated as income from other sources merely on a mathematical estimate of probable yield based on an earlier field report concerning damaged plants. Where agricultural operations, plantation, source of produce and recorded sale proceeds are accepted, contrary material is required to reject the disclosed quantity or receipts; the addition was deleted. Agricultural expenditure also cannot be enhanced to a fixed percentage of gross receipts without evidence that specific expenses are false or inadmissible, or cogent comparable, agricultural or expert material. The ad hoc expenditure addition was deleted, with consequential interest to be recomputed.
Agricultural income from date sales cannot be partly treated as income from other sources merely on a mathematical estimate of probable yield based on an earlier field report concerning damaged plants. Where agricultural operations, plantation, source of produce and recorded sale proceeds are accepted, contrary material is required to reject the disclosed quantity or receipts; the addition was deleted. Agricultural expenditure also cannot be enhanced to a fixed percentage of gross receipts without evidence that specific expenses are false or inadmissible, or cogent comparable, agricultural or expert material. The ad hoc expenditure addition was deleted, with consequential interest to be recomputed.
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