Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Additions u/s 69B - Validity of assessment order - Accepting the writ petition over alternative appellate remedy, the High Court held that, the proceedings leading up to the impugned order lacked clarity, as the appellant was led to believe that its explanations regarding the alleged excess stock had been accepted, except for a specific amount. Consequently, the appellant did not further explain the source of purchase of the excess stock, resulting in a violation of principles of natural justice. - Consequently, the matter restored back for re-adjudication.
Additions u/s 69B - Validity of assessment order - Accepting the writ petition over alternative appellate remedy, the High Court held that, the proceedings leading up to the impugned order lacked clarity, as the appellant was led to believe that its explanations regarding the alleged excess stock had been accepted, except for a specific amount. Consequently, the appellant did not further explain the source of purchase of the excess stock, resulting in a violation of principles of natural justice. - Consequently, the matter restored back for re-adjudication.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
