Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Deduction u/s. 80IA(4)(i) on storage tank MDI and storage tank EDA - By affirming the eligibility for deductions u/s 80IA(4) for the specialized storage tanks, the tribunal underscored the broader interpretation of infrastructure facilities in the context of port operations. The decision to allow share issue expenses under section 35D reiterates the acceptance of capital nature expenses pre-business commencement. Meanwhile, the nuanced approach in dealing with section 14A disallowances reflects the tribunal's acknowledgment of the complexity surrounding the allocation of expenses towards earning exempt income.
Deduction u/s. 80IA(4)(i) on storage tank MDI and storage tank EDA - By affirming the eligibility for deductions u/s 80IA(4) for the specialized storage tanks, the tribunal underscored the broader interpretation of infrastructure facilities in the context of port operations. The decision to allow share issue expenses under section 35D reiterates the acceptance of capital nature expenses pre-business commencement. Meanwhile, the nuanced approach in dealing with section 14A disallowances reflects the tribunal's acknowledgment of the complexity surrounding the allocation of expenses towards earning exempt income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
