Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Charge to income tax in respect of a house property - deemed income - The words “where the property is let” in sections 23(1)(b) and 23(1)(c), thus, represents a state of actual letting and cannot be extended to a state of ‘intended letting’. ‘Letting’, it may be appreciated, is a culmination of ‘intended letting’, so that the Act stipulates a maturity/completion of the intention to let. The words “actually let” in section 23(3) have no bearing at all in the matter. - AT
Charge to income tax in respect of a house property - deemed income - The words “where the property is let” in sections 23(1)(b) and 23(1)(c), thus, represents a state of actual letting and cannot be extended to a state of ‘intended letting’. ‘Letting’, it may be appreciated, is a culmination of ‘intended letting’, so that the Act stipulates a maturity/completion of the intention to let. The words “actually let” in section 23(3) have no bearing at all in the matter. - AT
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