Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Limitation for notices under Sections 153A and 153C is reckoned backward from the assessment year in which the satisfaction note is recorded. Where the note was recorded in AY 2024-25, the stated extended limitation reached only AY 2015-16. A notice for AY 2010-11 therefore fell outside the permissible period and was quashed as time-barred.
Limitation for notices under Sections 153A and 153C is reckoned backward from the assessment year in which the satisfaction note is recorded. Where the note was recorded in AY 2024-25, the stated extended limitation reached only AY 2015-16. A notice for AY 2010-11 therefore fell outside the permissible period and was quashed as time-barred.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
