Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
Reassessment of a partner cannot rest on notional interest on capital or remuneration where the partnership deed merely enables, rather than mandates, those payments. Clauses subject to mutual agreement, including a subsequent amendment providing that no interest was payable, did not establish an enforceable entitlement or actual receipt by the partner. Without material showing that the partner received interest or remuneration, there was no basis to infer income escaping assessment. The High Court therefore quashed the reassessment notices issued to the partner.
Reassessment of a partner cannot rest on notional interest on capital or remuneration where the partnership deed merely enables, rather than mandates, those payments. Clauses subject to mutual agreement, including a subsequent amendment providing that no interest was payable, did not establish an enforceable entitlement or actual receipt by the partner. Without material showing that the partner received interest or remuneration, there was no basis to infer income escaping assessment. The High Court therefore quashed the reassessment notices issued to the partner.
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