Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Section 264 empowers Commissioner to revise assessment order to provide relief to assessee in cases of over-assessment, even if assessee did not file revised return. Commissioner erred in rejecting revision application merely on ground that assessee did not file revised return. Section 264 is a salutary provision to remedy bona fide mistakes and correct inadvertent situations in assessment proceedings to prevent injustice. Goetze and M.S. Raju decisions not applicable in present case. Commissioner directed to pass appropriate order u/s 264 on merits of adjustment claimed by assessee.
Section 264 empowers Commissioner to revise assessment order to provide relief to assessee in cases of over-assessment, even if assessee did not file revised return. Commissioner erred in rejecting revision application merely on ground that assessee did not file revised return. Section 264 is a salutary provision to remedy bona fide mistakes and correct inadvertent situations in assessment proceedings to prevent injustice. Goetze and M.S. Raju decisions not applicable in present case. Commissioner directed to pass appropriate order u/s 264 on merits of adjustment claimed by assessee.
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