Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Validity of revision u/s 263 - subsequent revision orders - first order set aside by PCIT - ITAT quashing revisionary proceedings - adoption of accrual basis of accounting - assessee company followed mercantile system and showed trade receivables - assessee bound to adhere to Ministry of Power's direction to account for interest on cash basis - order u/s 263 invalid once first order quashed - no subsequent order permissible - res judicata principle applicable - Tribunal's order justified in absence of challenge to fundamental aspect across assessment years.
Validity of revision u/s 263 - subsequent revision orders - first order set aside by PCIT - ITAT quashing revisionary proceedings - adoption of accrual basis of accounting - assessee company followed mercantile system and showed trade receivables - assessee bound to adhere to Ministry of Power's direction to account for interest on cash basis - order u/s 263 invalid once first order quashed - no subsequent order permissible - res judicata principle applicable - Tribunal's order justified in absence of challenge to fundamental aspect across assessment years.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
