Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Exemption u/s 11 - violation of the provision of Section 13(1)(c) on account of payment of remuneration to specified person - In the event of any violation of provision of section 13, the entire exemption u/s 11 cannot be denied and would be restricted only to this extent of income misused by the Trust. Accordingly, we hold that the Assessing Officer was not justified in completing denying exemption u/s 11. - AT
Exemption u/s 11 - violation of the provision of Section 13(1)(c) on account of payment of remuneration to specified person - In the event of any violation of provision of section 13, the entire exemption u/s 11 cannot be denied and would be restricted only to this extent of income misused by the Trust. Accordingly, we hold that the Assessing Officer was not justified in completing denying exemption u/s 11. - AT
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TaxTMI 
TaxTMI 
of 4918 
