Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Penalty for misreporting under section 270A(9) requires a notice identifying the precise statutory instance alleged, because each form of misreporting calls for a distinct explanation. An assessment for the year preceding a search must follow the prescribed reassessment procedure, and an invalid assessment may be challenged in penalty proceedings where it forms the penalty's foundation. Voluntary disclosure of additional professional income, even if accepted in assessment, does not by itself establish misreporting. Section 271AAD addresses false entries or omissions linked to fraudulent input tax credit arrangements and does not extend merely to unrecorded professional receipts represented by cash found in search.
Penalty for misreporting under section 270A(9) requires a notice identifying the precise statutory instance alleged, because each form of misreporting calls for a distinct explanation. An assessment for the year preceding a search must follow the prescribed reassessment procedure, and an invalid assessment may be challenged in penalty proceedings where it forms the penalty's foundation. Voluntary disclosure of additional professional income, even if accepted in assessment, does not by itself establish misreporting. Section 271AAD addresses false entries or omissions linked to fraudulent input tax credit arrangements and does not extend merely to unrecorded professional receipts represented by cash found in search.
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