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 Central Government, under section 10(46A)(b) of the Income-tax Act, 1961, has exempted a regional development authority constituted under the Punjab Regional and Town Planning and Development Act, 1995, from specified income tax liabilities. This exemption applies from the assessment year 2024-2025, provided the authority continues to fulfill the purposes outlined in the relevant clause of the Income-tax Act. The notification confirms that no individual is adversely affected by its retrospective application.
The Central Government, under section 10(46A)(b) of the Income-tax Act, 1961, has exempted a regional development authority constituted under the Punjab Regional and Town Planning and Development Act, 1995, from specified income tax liabilities. This exemption applies from the assessment year 2024-2025, provided the authority continues to fulfill the purposes outlined in the relevant clause of the Income-tax Act. The notification confirms that no individual is adversely affected by its retrospective application.
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TaxTMI 
TaxTMI 
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