Transfer-pricing treatment of corporate guarantees and convertible loans followed prior-year consistency, with taxable foreign dividends excluded from...
Transfer-pricing benchmarking confines adjustments to associated-enterprise transactions and integrates delayed receivables through TNMM working-capit...
Medical relief status protects government-contracted mobile healthcare from commercial classification, while provisional registration cancellation req...
Charitable registration cancellation requires proof that educational activities abandoned their objects; incidental receipts and retained surplus are ...
Prospective customs notification amendments cannot bar provisional release consideration for earlier imports when bills of lading predate their commen...
Surrendered income arising from cash and stock discrepancies at business premises, and disclosed in the profit and loss account, is treated as business income where no independent undisclosed asset or non-business source is identified. The enhanced tax rate under section 115BBE, effective from 1 April 2017 without express retrospective operation, does not apply to FY 2016-17. Where competing reasonable interpretations of an ambiguous taxing provision are available and no jurisdictional High Court ruling governs, the interpretation favourable to the assessee applies. The surrendered income is consequently taxable at the normal business-income rate.
Surrendered income arising from cash and stock discrepancies at business premises, and disclosed in the profit and loss account, is treated as business income where no independent undisclosed asset or non-business source is identified. The enhanced tax rate under section 115BBE, effective from 1 April 2017 without express retrospective operation, does not apply to FY 2016-17. Where competing reasonable interpretations of an ambiguous taxing provision are available and no jurisdictional High Court ruling governs, the interpretation favourable to the assessee applies. The surrendered income is consequently taxable at the normal business-income rate.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
