Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
Addition u/s 56(2)(x) arises when consideration paid for immovable property is less than stamp duty value by more than Rs. 50,000 or 10% of consideration. If agreement fixing consideration was prior to the relevant year, stamp duty value on agreement date is considered. Section 50C applies to seller, 56(2)(x) to buyer. 10% tolerance limit under 50C also applies to 56(2)(x). Assessee is allowed 10% tolerance limit benefit since inception of 56(2)(x) and 50C. Addition made by Assessing Officer not in accordance with law, directed to delete addition. Assessee appeal allowed.
Addition u/s 56(2)(x) arises when consideration paid for immovable property is less than stamp duty value by more than Rs. 50,000 or 10% of consideration. If agreement fixing consideration was prior to the relevant year, stamp duty value on agreement date is considered. Section 50C applies to seller, 56(2)(x) to buyer. 10% tolerance limit under 50C also applies to 56(2)(x). Assessee is allowed 10% tolerance limit benefit since inception of 56(2)(x) and 50C. Addition made by Assessing Officer not in accordance with law, directed to delete addition. Assessee appeal allowed.
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