Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Income Tax: Rationalisation of provisions related to time-limit for completion of assessment, reassessment and recomputation. Proposed amendments: (i) Insertion of new sub-section (1B) to provide time-limit for assessment orders where return is filed pursuant to section 119(2)(b). (ii) Inclusion of reference to section 250 in sub-section (3) for time-limit to pass fresh assessment order. (iii) Amendment to sub-section (8) to provide timeline for revived assessment/reassessment proceedings due to annulment of block assessments under Chapter XIV-B. (iv) Amendment to Explanation 1(xii) to provide that date of limitation in search cases falls at month-end after exclusions. Consequential amendment to section 139 for returns filed pursuant to section 119(2)(b) order. Effective from 1st October 2024.
Income Tax: Rationalisation of provisions related to time-limit for completion of assessment, reassessment and recomputation. Proposed amendments: (i) Insertion of new sub-section (1B) to provide time-limit for assessment orders where return is filed pursuant to section 119(2)(b). (ii) Inclusion of reference to section 250 in sub-section (3) for time-limit to pass fresh assessment order. (iii) Amendment to sub-section (8) to provide timeline for revived assessment/reassessment proceedings due to annulment of block assessments under Chapter XIV-B. (iv) Amendment to Explanation 1(xii) to provide that date of limitation in search cases falls at month-end after exclusions. Consequential amendment to section 139 for returns filed pursuant to section 119(2)(b) order. Effective from 1st October 2024.
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