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...
Addition of commission paid owing to the absence of details of the persons to whom the commission has been paid - prima facie genuineness of expenditure is in doubt - Further, the business purpose of the expense has also to be demonstrated besides the payment which is missing in this case because none of the agent has been examined by the appellant - AO has correctly disallowed the expense claimed.
Addition of commission paid owing to the absence of details of the persons to whom the commission has been paid - prima facie genuineness of expenditure is in doubt - Further, the business purpose of the expense has also to be demonstrated besides the payment which is missing in this case because none of the agent has been examined by the appellant - AO has correctly disallowed the expense claimed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
