Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
Scrutiny assessments founded on revised returns require a statutory notice tied to the operative revised return; its absence is an incurable jurisdictional defect not cured by participation, and assessments for three years were quashed. Pre-amendment annual Form 3CL quantification could not defeat or cap weighted research-and-development deductions where substantive approval existed, but eligibility required limited verification. Rule 8D disallowance required account-based satisfaction, excluded investments yielding taxable foreign dividends, and could not automatically increase book profit under the self-contained minimum alternate tax regime. Expenditure improving access to an existing factory remained revenue expenditure where no capital asset or proprietary advantage was acquired.
Scrutiny assessments founded on revised returns require a statutory notice tied to the operative revised return; its absence is an incurable jurisdictional defect not cured by participation, and assessments for three years were quashed. Pre-amendment annual Form 3CL quantification could not defeat or cap weighted research-and-development deductions where substantive approval existed, but eligibility required limited verification. Rule 8D disallowance required account-based satisfaction, excluded investments yielding taxable foreign dividends, and could not automatically increase book profit under the self-contained minimum alternate tax regime. Expenditure improving access to an existing factory remained revenue expenditure where no capital asset or proprietary advantage was acquired.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
