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...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
ITAT adjudicated a tax assessment case involving reopening of assessment and accounting method challenges. The tribunal rejected the assessee's contentions regarding section 148 notice invalidity, confirming the notice's proper signing. The assessment reopening was deemed justifiable, with prior sanction under section 151 being procedurally valid. Regarding books of accounts, ITAT found the Assessing Officer's rejection warranted due to lack of stock register and verification challenges. The tribunal partially allowed the ground, remanding the net commission calculation issue to the AO for further verification with VAT authorities, mandating an opportunity of hearing and adherence to natural justice principles.
ITAT adjudicated a tax assessment case involving reopening of assessment and accounting method challenges. The tribunal rejected the assessee's contentions regarding section 148 notice invalidity, confirming the notice's proper signing. The assessment reopening was deemed justifiable, with prior sanction under section 151 being procedurally valid. Regarding books of accounts, ITAT found the Assessing Officer's rejection warranted due to lack of stock register and verification challenges. The tribunal partially allowed the ground, remanding the net commission calculation issue to the AO for further verification with VAT authorities, mandating an opportunity of hearing and adherence to natural justice principles.
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