Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Reopening of assessment u/s 147 - If it is found by the Assessing Officer on such verification that the amount in question represents the sale proceeds of investments which were made by the assessee out of share capital and share premium amounting to ₹ 11.04 crores, which is already treated and accepted as income of the assessee by virtue of the settlement of dispute under Vivad Se Vishwas Scheme in A.Y. 2008-09, the same cannot be treated as income of the assessee again for the year under consideration as the same would amount to double addition. - AT
Reopening of assessment u/s 147 - If it is found by the Assessing Officer on such verification that the amount in question represents the sale proceeds of investments which were made by the assessee out of share capital and share premium amounting to ₹ 11.04 crores, which is already treated and accepted as income of the assessee by virtue of the settlement of dispute under Vivad Se Vishwas Scheme in A.Y. 2008-09, the same cannot be treated as income of the assessee again for the year under consideration as the same would amount to double addition. - AT
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