Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Pre-reassessment procedure requires the Assessing Officer to issue a show-cause notice, consider the taxpayer's reply and form only a prima facie view that income has escaped assessment. Absence of an oral hearing at that preliminary stage does not by itself invalidate the pre-reassessment order or consequential reassessment notice where a substantive opportunity remains available during reassessment. Information concerning unsecured loans and cash deposits may be considered collectively where intrinsically connected to the alleged escaped income; the genuineness of the loan is to be examined in reassessment. The reassessment must provide a meaningful personal hearing and consider further documents and explanations, with merits left open.
Pre-reassessment procedure requires the Assessing Officer to issue a show-cause notice, consider the taxpayer's reply and form only a prima facie view that income has escaped assessment. Absence of an oral hearing at that preliminary stage does not by itself invalidate the pre-reassessment order or consequential reassessment notice where a substantive opportunity remains available during reassessment. Information concerning unsecured loans and cash deposits may be considered collectively where intrinsically connected to the alleged escaped income; the genuineness of the loan is to be examined in reassessment. The reassessment must provide a meaningful personal hearing and consider further documents and explanations, with merits left open.
Note: It is a system-generated summary and is for quick reference only.
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