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...
Assessment/reassessment proceedings against an insolvent company were quashed. A resolution plan was approved by the Tribunal u/s 30(6) of the Insolvency and Bankruptcy Code. The claim lodged by the Deputy Commissioner of Income Tax was verified and admitted during the NCLT proceedings. As per the Code's provisions, no person can initiate or continue proceedings regarding claims for dues relating to the period prior to the resolution plan's approval. Consequently, the Assessment Order passed u/ss 147, 144, and 144B, the order u/s 148A(d), and the notices u/s 148A(b) were quashed and set aside, favoring the assessee.
Assessment/reassessment proceedings against an insolvent company were quashed. A resolution plan was approved by the Tribunal u/s 30(6) of the Insolvency and Bankruptcy Code. The claim lodged by the Deputy Commissioner of Income Tax was verified and admitted during the NCLT proceedings. As per the Code's provisions, no person can initiate or continue proceedings regarding claims for dues relating to the period prior to the resolution plan's approval. Consequently, the Assessment Order passed u/ss 147, 144, and 144B, the order u/s 148A(d), and the notices u/s 148A(b) were quashed and set aside, favoring the assessee.
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