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...
Interest income on tax refund, though required to be reported under 'income from other sources', was erroneously shown as business income by assessee firm. Despite incorrect classification, assessee paid tax at applicable rate. No loss to exchequer occurred. Addition for interest income on refund treated as business income deserves deletion, as tax was duly paid, notwithstanding incorrect head of income.
Interest income on tax refund, though required to be reported under 'income from other sources', was erroneously shown as business income by assessee firm. Despite incorrect classification, assessee paid tax at applicable rate. No loss to exchequer occurred. Addition for interest income on refund treated as business income deserves deletion, as tax was duly paid, notwithstanding incorrect head of income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
