Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Assistance to authorized officer during search and seizure - For the purpose of search AO now take services of any person, entity as approved by PCC or CC or PDGIT or DGIT to assist him in search. Further, during and post search enquiries, the authorised officer may make reference to any person or entity or any valuer registered by or under any law for the time being in force, who shall estimate the fair market value of the property in the manner prescribed and submit a report of the estimate to the authorised officer or the Assessing Officer within sixty days from the receipt of such reference.
Assistance to authorized officer during search and seizure - For the purpose of search AO now take services of any person, entity as approved by PCC or CC or PDGIT or DGIT to assist him in search. Further, during and post search enquiries, the authorised officer may make reference to any person or entity or any valuer registered by or under any law for the time being in force, who shall estimate the fair market value of the property in the manner prescribed and submit a report of the estimate to the authorised officer or the Assessing Officer within sixty days from the receipt of such reference.
Note: It is a system-generated summary and is for quick reference only.
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