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...
Personal-use motor cars constitute personal effects rather than capital assets where their intimate and common personal use is established. Non-claim of depreciation, disallowance of car expenses as personal, and absence of business activity support that classification; balance-sheet treatment as a fixed asset does not prevail over actual user. Accordingly, transfer of such a motor car does not generate an allowable capital loss. Authorities concerning business assets or depreciation were distinguishable.
Personal-use motor cars constitute personal effects rather than capital assets where their intimate and common personal use is established. Non-claim of depreciation, disallowance of car expenses as personal, and absence of business activity support that classification; balance-sheet treatment as a fixed asset does not prevail over actual user. Accordingly, transfer of such a motor car does not generate an allowable capital loss. Authorities concerning business assets or depreciation were distinguishable.
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TaxTMI 
TaxTMI 
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