Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Rectification u/s 154 - Substitution of addition u/s 269SS with 69A - unsecured loans - assessee engaged in banking business - Enhancement of tax liability u/s 115BBE - The ITAT Ahmedabad, after hearing both parties, found discrepancies in the application of sections 269SS and 69A to the cooperative bank's case. The rectification order was deemed a typographical error without proper verification. The ITAT directed the AO to reexamine the applicability of section 69A, ensuring proper evidence and hearing, and allowed the appeals partly for statistical purposes.
Rectification u/s 154 - Substitution of addition u/s 269SS with 69A - unsecured loans - assessee engaged in banking business - Enhancement of tax liability u/s 115BBE - The ITAT Ahmedabad, after hearing both parties, found discrepancies in the application of sections 269SS and 69A to the cooperative bank's case. The rectification order was deemed a typographical error without proper verification. The ITAT directed the AO to reexamine the applicability of section 69A, ensuring proper evidence and hearing, and allowed the appeals partly for statistical purposes.
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