Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Reference to Departmental valuation officer [DVO] without first rejecting the books of accounts - The Court reiterated the importance of rejecting the books of accounts before referring the matter to the valuation officer. It found that the Tribunal had erred in not considering this crucial aspect, as affirmed by Supreme Court precedent. Consequently, the Court set aside the Tribunal's order and remitted the matter for fresh consideration, emphasizing the necessity of determining whether the books of accounts were rejected before making the reference to the valuation officer.
Reference to Departmental valuation officer [DVO] without first rejecting the books of accounts - The Court reiterated the importance of rejecting the books of accounts before referring the matter to the valuation officer. It found that the Tribunal had erred in not considering this crucial aspect, as affirmed by Supreme Court precedent. Consequently, the Court set aside the Tribunal's order and remitted the matter for fresh consideration, emphasizing the necessity of determining whether the books of accounts were rejected before making the reference to the valuation officer.
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