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...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
Reassessment u/s 147 - once the AO noticed the factum of bogus purchases and accommodation entries and in scrutiny assessment and taxed in the manner he thought was appropriate, he cannot be allowed to shift the stand by issuing notice of reopening of assessment without any further material available - mere change of opinion - notice set aside
Reassessment u/s 147 - once the AO noticed the factum of bogus purchases and accommodation entries and in scrutiny assessment and taxed in the manner he thought was appropriate, he cannot be allowed to shift the stand by issuing notice of reopening of assessment without any further material available - mere change of opinion - notice set aside
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