Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
Taxability of cash deposits as unexplained u/s 69A r.w.s. u/s. 115BBE - The Tribunal found that the cash deposits made by the appellant during the demonetization period were unexplained. - Held that the deposits constitute turnover of the appellant's business and taxed them at a rate of 3.5%. - Directed the Assessing Officer to tax the turnover under normal rates instead of under section 115BBE of the Act.
Taxability of cash deposits as unexplained u/s 69A r.w.s. u/s. 115BBE - The Tribunal found that the cash deposits made by the appellant during the demonetization period were unexplained. - Held that the deposits constitute turnover of the appellant's business and taxed them at a rate of 3.5%. - Directed the Assessing Officer to tax the turnover under normal rates instead of under section 115BBE of the Act.
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