PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
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The ITAT held that the assessing officer must compute tax liability on the addition under section 69A at the 30% rate prescribed by the pre-amended section 115BBE, rejecting application of the post-amendment 60% rate; the Tribunal followed the reasoning of its coordinate bench and applied precedent to direct reassessment consistent with the pre-amendment regime. The AO is directed to determine tax on the specified addition accordingly, with consequential adjustments as necessary. The additional ground invoked by the assessee is allowed and the matter is remitted for computation and assessment in accordance with this direction.
The ITAT held that the assessing officer must compute tax liability on the addition under section 69A at the 30% rate prescribed by the pre-amended section 115BBE, rejecting application of the post-amendment 60% rate; the Tribunal followed the reasoning of its coordinate bench and applied precedent to direct reassessment consistent with the pre-amendment regime. The AO is directed to determine tax on the specified addition accordingly, with consequential adjustments as necessary. The additional ground invoked by the assessee is allowed and the matter is remitted for computation and assessment in accordance with this direction.
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