Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
For AY 2019-20, the option for deemed application of charitable trust income had to be exercised before expiry of the time allowed for filing the return. Form No. 9A filed before the extended return-filing due date met that requirement. The later requirement to furnish Form No. 9A at least two months before the return-filing due date applies prospectively from AY 2023-24. Statutory accumulation or setting apart of income within the permissible fifteen per cent limit is separate from deemed application and does not depend on Form No. 9A, unless the accumulation exceeds that limit.
For AY 2019-20, the option for deemed application of charitable trust income had to be exercised before expiry of the time allowed for filing the return. Form No. 9A filed before the extended return-filing due date met that requirement. The later requirement to furnish Form No. 9A at least two months before the return-filing due date applies prospectively from AY 2023-24. Statutory accumulation or setting apart of income within the permissible fifteen per cent limit is separate from deemed application and does not depend on Form No. 9A, unless the accumulation exceeds that limit.
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TaxTMI 
TaxTMI 
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