Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
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Revision petition u/s 264 by assessee - Claiming to act as a collection agent for borewell digging payments, the petitioner argued that the income was exaggerated and included expenditures paid to rig owners. Despite the petitioner's assertions, the High Court found insufficient evidence to support their claims and emphasized the need for comprehensive documentation to challenge the assessment under revisional jurisdiction. However, acknowledging the petitioner's request for another opportunity to present evidence, the court granted the writ petition, nullified the previous order, and instructed the petitioner to appear before the Commissioner of Income Tax with all necessary documents for reconsideration.
Revision petition u/s 264 by assessee - Claiming to act as a collection agent for borewell digging payments, the petitioner argued that the income was exaggerated and included expenditures paid to rig owners. Despite the petitioner's assertions, the High Court found insufficient evidence to support their claims and emphasized the need for comprehensive documentation to challenge the assessment under revisional jurisdiction. However, acknowledging the petitioner's request for another opportunity to present evidence, the court granted the writ petition, nullified the previous order, and instructed the petitioner to appear before the Commissioner of Income Tax with all necessary documents for reconsideration.
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