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...
Reassessment founded solely on investigation material and statements already available during prior search assessment and revision proceedings constitutes reliance on stale material and a change of opinion. Repackaging existing information does not create fresh jurisdiction to reopen assessment. Where lender-company confirmations are obtained before issuing the reassessment notice but their responses are not addressed, the reopening lacks an adequate basis. Approval based on the same pre-existing material is mechanical and does not cure the jurisdictional defect. The reassessment proceedings and consequential additions were therefore deleted.
Reassessment founded solely on investigation material and statements already available during prior search assessment and revision proceedings constitutes reliance on stale material and a change of opinion. Repackaging existing information does not create fresh jurisdiction to reopen assessment. Where lender-company confirmations are obtained before issuing the reassessment notice but their responses are not addressed, the reopening lacks an adequate basis. Approval based on the same pre-existing material is mechanical and does not cure the jurisdictional defect. The reassessment proceedings and consequential additions were therefore deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
