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...
Legal principles regarding raising new grounds in an appeal before tax authorities, and the treatment of interest income earned on compulsory deposits of share application or subscription money. The Supreme Court held that tax authorities cannot take a narrow view and prevent an assessee from raising new grounds, as long as the relevant facts are on record and the ground is raised bona fide. Regarding interest income, the Supreme Court ruled that interest earned on compulsory deposits made for share issue is incidental and should be set off against share issue expenses, since the purpose of deposit is compliance with statutory requirements, not earning income. The court decisions favored the assessee's position on both issues.
Legal principles regarding raising new grounds in an appeal before tax authorities, and the treatment of interest income earned on compulsory deposits of share application or subscription money. The Supreme Court held that tax authorities cannot take a narrow view and prevent an assessee from raising new grounds, as long as the relevant facts are on record and the ground is raised bona fide. Regarding interest income, the Supreme Court ruled that interest earned on compulsory deposits made for share issue is incidental and should be set off against share issue expenses, since the purpose of deposit is compliance with statutory requirements, not earning income. The court decisions favored the assessee's position on both issues.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
