Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Nature of expenses - Revenue or capital - Loss of extinguishment of debt – Expenses on cancellation of debentures – Assessee foreclosed the loan account by paying some additional amount which would save the Assessee from making periodic payment of interest - held as revenue in nature - AT
Nature of expenses - Revenue or capital - Loss of extinguishment of debt – Expenses on cancellation of debentures – Assessee foreclosed the loan account by paying some additional amount which would save the Assessee from making periodic payment of interest - held as revenue in nature - AT
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