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...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
ITAT held that the re-assessment order under section 147 r.w.s. 144B was invalid. The AO improperly reopened the minor son's income in the father's hands despite clear evidence that the income was already clubbed in the mother's income tax return. The tribunal found the reassessment proceedings procedurally flawed, as the AO failed to verify the submitted documentation and disregarded the assessee's explanation regarding income clubbing. Consequently, the tribunal quashed the re-assessment proceedings, deleted the addition made by the AO, and allowed the assessee's appeal, emphasizing that the reassessment was contrary to legal provisions.
ITAT held that the re-assessment order under section 147 r.w.s. 144B was invalid. The AO improperly reopened the minor son's income in the father's hands despite clear evidence that the income was already clubbed in the mother's income tax return. The tribunal found the reassessment proceedings procedurally flawed, as the AO failed to verify the submitted documentation and disregarded the assessee's explanation regarding income clubbing. Consequently, the tribunal quashed the re-assessment proceedings, deleted the addition made by the AO, and allowed the assessee's appeal, emphasizing that the reassessment was contrary to legal provisions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
