Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Appellate authorities must decide an income-tax appeal on its merits where it has not been withdrawn, notwithstanding the assessee's non-prosecution or failure to make further compliance. Dismissal without examining grounds challenging reassessment and additions for unexplained bank credits fails to discharge the appellate duty to adjudicate the issues raised. Challenges concerning audited books, business history and bank withdrawals require consideration after providing an opportunity to substantiate the contentions and produce supporting material. The appeal was restored for fresh appellate adjudication in accordance with law.
Appellate authorities must decide an income-tax appeal on its merits where it has not been withdrawn, notwithstanding the assessee's non-prosecution or failure to make further compliance. Dismissal without examining grounds challenging reassessment and additions for unexplained bank credits fails to discharge the appellate duty to adjudicate the issues raised. Challenges concerning audited books, business history and bank withdrawals require consideration after providing an opportunity to substantiate the contentions and produce supporting material. The appeal was restored for fresh appellate adjudication in accordance with law.
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TaxTMI 
TaxTMI 
of 4888 
