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...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Estimation of profit - AO applying a profit rate of 20% on the contract receipt against the rate of profit declared by the appellant at 8.13% - CIT(A) directing the AO to apply a profit rate of 14.5% - The ITAT partially upheld the additions but granted relief to the assessee by adjusting the net profit rate to 11% and reducing the additions for provisions based on evidence provided during appellate proceedings. Overall, the tribunal's decision aimed to balance the interests of both parties while ensuring compliance with tax regulations.
Estimation of profit - AO applying a profit rate of 20% on the contract receipt against the rate of profit declared by the appellant at 8.13% - CIT(A) directing the AO to apply a profit rate of 14.5% - The ITAT partially upheld the additions but granted relief to the assessee by adjusting the net profit rate to 11% and reducing the additions for provisions based on evidence provided during appellate proceedings. Overall, the tribunal's decision aimed to balance the interests of both parties while ensuring compliance with tax regulations.
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