Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The CBDT has notified "The Delhi Building and Other Construction Workers Welfare Board" for exemption under section 10(46) of the Income-tax Act, 1961. The specified exempt income includes cess received, registration and renewal fees collected from workers, and interest on bank deposits. The exemption is subject to conditions that the Board shall not engage in commercial activities, maintain unchanged activities and income nature, and file returns per section 139(4C)(g). This notification applies retrospectively to assessment years 2012-13, 2013-14, and 2014-15, corresponding to financial years 2011-12, 2012-13, and 2013-14.
The CBDT has notified "The Delhi Building and Other Construction Workers Welfare Board" for exemption under section 10(46) of the Income-tax Act, 1961. The specified exempt income includes cess received, registration and renewal fees collected from workers, and interest on bank deposits. The exemption is subject to conditions that the Board shall not engage in commercial activities, maintain unchanged activities and income nature, and file returns per section 139(4C)(g). This notification applies retrospectively to assessment years 2012-13, 2013-14, and 2014-15, corresponding to financial years 2011-12, 2012-13, and 2013-14.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
