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, exercising powers under section 10(46A)(b) of the Income-tax Act, 1961, notifies a development authority constituted under the Ajmer Development Authority Act, 2013 as an eligible assessee for specified income tax exemption. The exemption applies from assessment year 2024-25, conditional on the authority's continued constitution under the 2013 Act and pursuit of one or more purposes listed in section 10(46A)(a). The notification is stated to have retrospective effect without adversely affecting any person. The authority's PAN is recorded, and the notification is issued by the competent officer of the Central Board of Direct Taxes.
The Central Government, exercising powers under section 10(46A)(b) of the Income-tax Act, 1961, notifies a development authority constituted under the Ajmer Development Authority Act, 2013 as an eligible assessee for specified income tax exemption. The exemption applies from assessment year 2024-25, conditional on the authority's continued constitution under the 2013 Act and pursuit of one or more purposes listed in section 10(46A)(a). The notification is stated to have retrospective effect without adversely affecting any person. The authority's PAN is recorded, and the notification is issued by the competent officer of the Central Board of Direct Taxes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
