Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
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Section 90(2) permits a taxpayer to elect the more beneficial treatment available under domestic tax law or the India-Mauritius DTAA; treaty treatment cannot be imposed where the domestic-law position is more favourable. This principle supports setting off current and brought-forward long-term capital losses on shares acquired before 1 April 2017 against taxable capital gains from shares acquired thereafter. The claimed losses are to be considered in recomputing taxable income where the taxpayer validly exercises the beneficial statutory option.
Section 90(2) permits a taxpayer to elect the more beneficial treatment available under domestic tax law or the India-Mauritius DTAA; treaty treatment cannot be imposed where the domestic-law position is more favourable. This principle supports setting off current and brought-forward long-term capital losses on shares acquired before 1 April 2017 against taxable capital gains from shares acquired thereafter. The claimed losses are to be considered in recomputing taxable income where the taxpayer validly exercises the beneficial statutory option.
Note: It is a system-generated summary and is for quick reference only.
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