Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Disallowance u/s 80P(2)(d) - Interest income on deposits placed with Kangra Central Cooperative Bank (KCCB) Ltd. - the Tribunal found that the Assessee met the conditions for deduction under section 80P(2)(d) since the income was derived from investments with another cooperative society, namely the KCCB Ltd. - ITAT clarified that it is not relevant to examine whether the interest income is earned from any specified cooperative activity or whether it is a case of surplus fund deployment.
Disallowance u/s 80P(2)(d) - Interest income on deposits placed with Kangra Central Cooperative Bank (KCCB) Ltd. - the Tribunal found that the Assessee met the conditions for deduction under section 80P(2)(d) since the income was derived from investments with another cooperative society, namely the KCCB Ltd. - ITAT clarified that it is not relevant to examine whether the interest income is earned from any specified cooperative activity or whether it is a case of surplus fund deployment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
