Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Revision u/s 263 by CIT - nature of compensation received for cancellation of the plot - the character of payment received as compensation by the transferee bears the character of capital receipt. The payment of interest in the facts of the present case is compensatory in nature and therefore, does not bear the character of revenue receipt. We hold that the AO’s order was correct and it did not suffer from any error, justifying the invocation of the PCIT’s powers under Section 263 - HC
Revision u/s 263 by CIT - nature of compensation received for cancellation of the plot - the character of payment received as compensation by the transferee bears the character of capital receipt. The payment of interest in the facts of the present case is compensatory in nature and therefore, does not bear the character of revenue receipt. We hold that the AO’s order was correct and it did not suffer from any error, justifying the invocation of the PCIT’s powers under Section 263 - HC
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TaxTMI 
TaxTMI 
