Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
Customs Broker licence proceedings require accurate procedural facts before delay or natural-justice findings can justify setting aside regulatory act...
Deduction of cost of funds from deposit income of a primary agricultural credit co-operative society requires fresh consideration in light of Totagars Co-operative Sale Society. The claim for proportionate administrative and other expenditure remains open for adjudication. The impugned intimation, assessment orders and consequential penalty orders for the relevant assessment years were quashed, and the matter was remanded to the competent authorities. The society may submit objections and reply to the notice issued under section 142(1).
Deduction of cost of funds from deposit income of a primary agricultural credit co-operative society requires fresh consideration in light of Totagars Co-operative Sale Society. The claim for proportionate administrative and other expenditure remains open for adjudication. The impugned intimation, assessment orders and consequential penalty orders for the relevant assessment years were quashed, and the matter was remanded to the competent authorities. The society may submit objections and reply to the notice issued under section 142(1).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
