Brand promotion expenditure requires an established associated-enterprise arrangement for transfer pricing, while management cross-charges must accoun...
Reassessment after the ordinary limitation period requires the escaped-income threshold and independent sanction, without expanding jurisdiction throu...
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Interest under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land forms part of the compensation and is treated as a capital receipt, not income from other sources. Amendments governing taxation of interest on compensation do not alter its compensatory character. The interest is not taxable under section 56(2)(viii) read with section 57(iv). Where the addition treating the interest as taxable is deleted, a consequential penalty under section 270A based on that addition loses its foundation and is deleted.
Interest under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land forms part of the compensation and is treated as a capital receipt, not income from other sources. Amendments governing taxation of interest on compensation do not alter its compensatory character. The interest is not taxable under section 56(2)(viii) read with section 57(iv). Where the addition treating the interest as taxable is deleted, a consequential penalty under section 270A based on that addition loses its foundation and is deleted.
Note: It is a system-generated summary and is for quick reference only.
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