Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Addition of commission expenses and franking charges - Allowable business expenditure or not? - The Tribunal acknowledged that the assessee had provided details of the commission agents to whom payments were made, along with invoices. However, it noted that certain details, such as the PAN of some agents, were missing. The Tribunal directed the AO to verify whether these agents had declared the commission income in their tax returns. If the agents could demonstrate that they declared the income, and the services provided were genuine, the commission expenses should be allowed.
Addition of commission expenses and franking charges - Allowable business expenditure or not? - The Tribunal acknowledged that the assessee had provided details of the commission agents to whom payments were made, along with invoices. However, it noted that certain details, such as the PAN of some agents, were missing. The Tribunal directed the AO to verify whether these agents had declared the commission income in their tax returns. If the agents could demonstrate that they declared the income, and the services provided were genuine, the commission expenses should be allowed.
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