Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Revision u/s 263 - Correct head of income - rental income from letting out of the shop - The assessee was not finding the buyer to sell the property which were kept as stock in trade, so it cannot be said that the assessee closed the business - it can be said that by considering the rental income received by the assessee as “business income” which was consistently claimed by the assessee in the preceding years also and the department had accepted the same, the assessment order passed by the A.O. was not prejudicial to the interest of the revenue - AT
Revision u/s 263 - Correct head of income - rental income from letting out of the shop - The assessee was not finding the buyer to sell the property which were kept as stock in trade, so it cannot be said that the assessee closed the business - it can be said that by considering the rental income received by the assessee as “business income” which was consistently claimed by the assessee in the preceding years also and the department had accepted the same, the assessment order passed by the A.O. was not prejudicial to the interest of the revenue - AT
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TaxTMI 
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