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...
Section 115BAA concessional corporate tax option requires cumulative compliance with prescribed conditions; claiming additional depreciation, which the regime prohibits, while calculating tax under the normal regime invalidates the option despite filing Form 10-IC. However, disallowance of additional depreciation through section 143(1) return processing is not permissible where it turns on a disputed legal position, particularly where the taxpayer's clarification was not considered. The invalid option therefore did not sustain the adjustment, which was deleted.
Section 115BAA concessional corporate tax option requires cumulative compliance with prescribed conditions; claiming additional depreciation, which the regime prohibits, while calculating tax under the normal regime invalidates the option despite filing Form 10-IC. However, disallowance of additional depreciation through section 143(1) return processing is not permissible where it turns on a disputed legal position, particularly where the taxpayer's clarification was not considered. The invalid option therefore did not sustain the adjustment, which was deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4860 
