Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
MAT computation u/s 115JB - whether the receipt on account of surrender of gift of shares is per se a capital receipt or a revenue receipt? - The tribunal ruled that the transaction involving the receipt of shares constituted a capital receipt and should not be taxed as per section 115JB. - It held that the assessing officer lacked authority to tinker with audited financial statements unless the items fell under specified provisions, as clarified by the Supreme court in Apollo Tyres Ltd v. CIT.
MAT computation u/s 115JB - whether the receipt on account of surrender of gift of shares is per se a capital receipt or a revenue receipt? - The tribunal ruled that the transaction involving the receipt of shares constituted a capital receipt and should not be taxed as per section 115JB. - It held that the assessing officer lacked authority to tinker with audited financial statements unless the items fell under specified provisions, as clarified by the Supreme court in Apollo Tyres Ltd v. CIT.
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TaxTMI 
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