Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Investigation deposits refunded after failed customs demands fall outside the statutory appellate pre-deposit interest regime and may attract compensa...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves th...
Revision u/s 263 - AO made no enquiry for details of deposits neither anyalysed identity, genuineness and creditworthiness nor examined eligibility for deduction u/s. 80P(2) - neither audited account by an accountant or under co-operative audit was filed, even TAR u/s 44AB not filed - without making any enquiry into these issues, the AO accepted the assessee’s claim - the assessment order is erroneous which also resulted in loss to the revenue - revision valid
Revision u/s 263 - AO made no enquiry for details of deposits neither anyalysed identity, genuineness and creditworthiness nor examined eligibility for deduction u/s. 80P(2) - neither audited account by an accountant or under co-operative audit was filed, even TAR u/s 44AB not filed - without making any enquiry into these issues, the AO accepted the assessee’s claim - the assessment order is erroneous which also resulted in loss to the revenue - revision valid
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
