Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
The Appellate Tribunal considered a case involving deduction u/s 80M. The assessee received Rs. 37,12,500 dividend from a domestic company and distributed Rs. 30 Lakh to its shareholder. Section 80M(1) allows deduction equal to distributed dividend before the due date. The assessee paid dividend to shareholders before due date u/s 139(1) and filed return on time. Thus, the assessee rightfully claimed deduction u/s 80M of Rs. 30 Lakh. The Tribunal allowed the appeal.
The Appellate Tribunal considered a case involving deduction u/s 80M. The assessee received Rs. 37,12,500 dividend from a domestic company and distributed Rs. 30 Lakh to its shareholder. Section 80M(1) allows deduction equal to distributed dividend before the due date. The assessee paid dividend to shareholders before due date u/s 139(1) and filed return on time. Thus, the assessee rightfully claimed deduction u/s 80M of Rs. 30 Lakh. The Tribunal allowed the appeal.
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