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    Penalty for Cash Deposit by Third Party Deleted Due to Business Context and Sales Volume u/s 271DA.
    Court Rules AO Cannot Change Full Value of Consideration in Leasehold Rights Transfer Without Evidence u/s 50C.
    Renting a House in the USA Doesn't Automatically Establish Tax Residency, Emphasizes Importance of Tie-Breaker Test.
    Payments to University of Cambridge for exams and training not considered "royalty"; no TDS required.
    Taxpayer Eligible for Section 54F Deduction Despite Developer's Delay in Property Possession; Beneficial Provisions Upheld.
    PCIT Revises Assessment: AO's Incorrect 30% Tax Rate u/s 115BBE Corrected to 60% for Revenue Protection.
    MAT Credit Rectification Approved: Surcharge and Cess Components to be Included u/s 154 for Section 115JAA Compliance.
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    Discrepancies in Share Valuation Projections: Section 56(2)(viib) Only Taxes Excess Premium Over Face Value.
    Commissioner of Income Tax Order Challenged; Insolvency Proceedings Require Interim Resolution Professional to Handle Litigation u/s 250.
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      CIRP - Demand of income tax - Validity of order of Commissioner...

      Commissioner of Income Tax Order Challenged; Insolvency Proceedings Require Interim Resolution Professional to Handle Litigation u/s 250.

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      Income TaxDecember 30, 2022Case LawsAT
      CIRP - Demand of income tax - Validity of order of Commissioner of Income Tax (appeals) passed u/s 250 - Once the insolvency proceedings commenced under the Code, all the litigations are to be pursued by Interim Resolution Professional appointed by the Committee of Creditors. In view of the above, we are of the considered view that the present cross-appeals, in the current form, are not maintainable. - AT

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      ActsIncome Tax