Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
Independent professional certification requires pleaded knowledge or complicity for criminal liability; untimely complaints remain barred by limitatio...
Revision u/s 263 - debatable issue - taxability of interest received by the Assessee on the enhanced compensation u/s 28 of the Land Acquisition Act - The Appellate Tribunal examined the issues raised and found that the initiation of proceedings under section 263 lacked merit, as the order passed under section 154 of the Act rectifying the mistake apparent from the record was valid. Moreover, the Tribunal recognized the debatable nature of the taxability issue and emphasized that when two plausible views exist, the jurisdictional PCIT cannot assume jurisdiction under section 263 of the Act.
Revision u/s 263 - debatable issue - taxability of interest received by the Assessee on the enhanced compensation u/s 28 of the Land Acquisition Act - The Appellate Tribunal examined the issues raised and found that the initiation of proceedings under section 263 lacked merit, as the order passed under section 154 of the Act rectifying the mistake apparent from the record was valid. Moreover, the Tribunal recognized the debatable nature of the taxability issue and emphasized that when two plausible views exist, the jurisdictional PCIT cannot assume jurisdiction under section 263 of the Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4778
Join Channel
TaxTMI 
