Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Professional misconduct - Debarment from being appointed as an auditor or internal auditor or from undertaking any audit - levy of penalty - The court observed that the audit committee's conclusion was based solely on EP's presentation, which ruled out fraud reported by PW. The management used PHD's work as a disclosure in the financial statements, which were then audited by PHD, amounting to self-review. The court found no ground to grant any interim relief at this stage and rejected the applications for interim direction.
Professional misconduct - Debarment from being appointed as an auditor or internal auditor or from undertaking any audit - levy of penalty - The court observed that the audit committee's conclusion was based solely on EP's presentation, which ruled out fraud reported by PW. The management used PHD's work as a disclosure in the financial statements, which were then audited by PHD, amounting to self-review. The court found no ground to grant any interim relief at this stage and rejected the applications for interim direction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
