Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Deduction u/s. 32AB - rental income - The court analyzes the definition of "eligible business or profession" under Section 32AB(2)(i) and determines that it encompasses a wide range of activities beyond manufacturing or production. The inclusion of rental income within this definition is justified. - The court emphasizes that eligible business includes all income except that specifically excluded. Rental income, being part of the appellant's business income, is thus eligible for deduction under Section 32AB. - Consequently, the court rules in favor of the appellant, stating that the rental income assessed under the head "Income from house property" qualifies for deduction under Section 32AB of the Act.
Deduction u/s. 32AB - rental income - The court analyzes the definition of "eligible business or profession" under Section 32AB(2)(i) and determines that it encompasses a wide range of activities beyond manufacturing or production. The inclusion of rental income within this definition is justified. - The court emphasizes that eligible business includes all income except that specifically excluded. Rental income, being part of the appellant's business income, is thus eligible for deduction under Section 32AB. - Consequently, the court rules in favor of the appellant, stating that the rental income assessed under the head "Income from house property" qualifies for deduction under Section 32AB of the Act.
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