Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
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PCIT rightly invoked revisionary jurisdiction u/s 263 as AO failed to examine assessee's claim of depreciation on goodwill acquired through slump sale. ITAT upheld initiation of revisionary proceedings, set aside assessment order for limited adjudication on depreciation claim. AO directed to decide issue as per law after due verification whether transferor declared profits and paid taxes.
PCIT rightly invoked revisionary jurisdiction u/s 263 as AO failed to examine assessee's claim of depreciation on goodwill acquired through slump sale. ITAT upheld initiation of revisionary proceedings, set aside assessment order for limited adjudication on depreciation claim. AO directed to decide issue as per law after due verification whether transferor declared profits and paid taxes.
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