Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Reopening of assessment - Validity of order u/s 147 r.w.s 144 - Faceless assessment u/s 144B - No doubt there is a failure on the part of the petitioner to have complied with the requirements of Section 176 of the Income Tax Act, 1961 after partnership firm purportedly ceased to exist and discontinued with the business. There is also a failure on the part of the petitioner to give in the details of the account Nos. of the partnership firm while responding to the show cause notice issued u/s 147 - However, the impugned order is bereft of details. - Matter restored back - HC
Reopening of assessment - Validity of order u/s 147 r.w.s 144 - Faceless assessment u/s 144B - No doubt there is a failure on the part of the petitioner to have complied with the requirements of Section 176 of the Income Tax Act, 1961 after partnership firm purportedly ceased to exist and discontinued with the business. There is also a failure on the part of the petitioner to give in the details of the account Nos. of the partnership firm while responding to the show cause notice issued u/s 147 - However, the impugned order is bereft of details. - Matter restored back - HC
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TaxTMI 
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