Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
The case concerns disallowance u/s 14A r.w.r. 8D without exempt income for A.Y. Issue of retrospective/prospective application of Section 14A explanation post Finance Act, 2022. CIT(A) upheld disallowance citing Finance Act, 2020. SC rulings state disallowance impermissible without exempt income. AO's presumptions on investment source are not legally tenable. CIT(A)'s reliance on retrospective application of Section 14A explanation is illegal. Section 14A amendment not retroactive to A.Y. 2016-17. Tribunal rules against revenue, in favor of appellant, as AO's satisfaction for disallowance was based on future dividend income presumptions, lacking legal basis.
The case concerns disallowance u/s 14A r.w.r. 8D without exempt income for A.Y. Issue of retrospective/prospective application of Section 14A explanation post Finance Act, 2022. CIT(A) upheld disallowance citing Finance Act, 2020. SC rulings state disallowance impermissible without exempt income. AO's presumptions on investment source are not legally tenable. CIT(A)'s reliance on retrospective application of Section 14A explanation is illegal. Section 14A amendment not retroactive to A.Y. 2016-17. Tribunal rules against revenue, in favor of appellant, as AO's satisfaction for disallowance was based on future dividend income presumptions, lacking legal basis.
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