Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
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The ITAT considered the validity of an order u/s 143(1)(a) where the AO made adjustments based on the tax auditor's entry for penalty or fine. The AO communicated the proposed adjustment and provided reasons in the intimation order. The ITAT referenced the distinction between intimation and assessment per the Supreme Court's ruling in CIT Vs Rajesh Jhaveri Stock Brokers P ltd. The AO's authority is limited to adjustments based on the return of income, not debatable issues. In this case, the AO's actions were deemed appropriate as the adjustment was based on a prima facie disallowable amount categorized by the tax auditor. The appeal was allowed for statistical purposes. The decision aligns with legal principles governing adjustments u/s 143(1)(a).
The ITAT considered the validity of an order u/s 143(1)(a) where the AO made adjustments based on the tax auditor's entry for penalty or fine. The AO communicated the proposed adjustment and provided reasons in the intimation order. The ITAT referenced the distinction between intimation and assessment per the Supreme Court's ruling in CIT Vs Rajesh Jhaveri Stock Brokers P ltd. The AO's authority is limited to adjustments based on the return of income, not debatable issues. In this case, the AO's actions were deemed appropriate as the adjustment was based on a prima facie disallowable amount categorized by the tax auditor. The appeal was allowed for statistical purposes. The decision aligns with legal principles governing adjustments u/s 143(1)(a).
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