Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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HC allowed the tax assessment petition partially, setting aside the revisional order for tax years 2014-15, 2015-16, and 2016-17, while remanding the matter for fresh assessment for 2017-18. The court found procedural irregularities in the original assessment, specifically noting the Revisional Authority's failure to adequately address legal questions raised and lack of substantive assessment documentation. The remand directs the Assessing Authority to conduct a comprehensive reassessment for the April-June 2017 period in compliance with TVAT Act provisions, ensuring proper evaluation of turnover and potential penalties.
HC allowed the tax assessment petition partially, setting aside the revisional order for tax years 2014-15, 2015-16, and 2016-17, while remanding the matter for fresh assessment for 2017-18. The court found procedural irregularities in the original assessment, specifically noting the Revisional Authority's failure to adequately address legal questions raised and lack of substantive assessment documentation. The remand directs the Assessing Authority to conduct a comprehensive reassessment for the April-June 2017 period in compliance with TVAT Act provisions, ensuring proper evaluation of turnover and potential penalties.
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