Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
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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