Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Inadvertent filing of the concessional-regime option form by a credit co-operative society does not, by itself, require assessment under that regime where the return was filed under the old regime, claimed the statutory deduction available to credit co-operative societies, and expressly stated that no concessional-regime option was exercised. The filing was not treated as an attempted withdrawal of an option after filing a return under the new regime. Processing the return under the concessional regime and disallowing the deduction were unjustified; the appellate order was set aside and the deduction claim was accepted.
Inadvertent filing of the concessional-regime option form by a credit co-operative society does not, by itself, require assessment under that regime where the return was filed under the old regime, claimed the statutory deduction available to credit co-operative societies, and expressly stated that no concessional-regime option was exercised. The filing was not treated as an attempted withdrawal of an option after filing a return under the new regime. Processing the return under the concessional regime and disallowing the deduction were unjustified; the appellate order was set aside and the deduction claim was accepted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
