Section 153C jurisdiction requires timely deemed search and assessee-specific satisfaction material; otherwise reassessment must use the proper statut...
Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate reman...
The ITAT Chennai assessed a trust's income application. The trust argued excess income application, potentially eliminating tax liability despite depreciation claim. ITAT noted u/s 11(6) disallowing depreciation on assets claimed as income application. The issue was remanded to AO for fresh income application review. The appeal was allowed for statistical purposes.
The ITAT Chennai assessed a trust's income application. The trust argued excess income application, potentially eliminating tax liability despite depreciation claim. ITAT noted u/s 11(6) disallowing depreciation on assets claimed as income application. The issue was remanded to AO for fresh income application review. The appeal was allowed for statistical purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
