Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
ITAT held that the Dispute Resolution Panel erred in applying the Finance Act 2021 amendment to s.32(1) retrospectively. The issue of depreciation on goodwill/intangible assets acquired under slump sale was remanded to the AO for de novo adjudication after considering additional evidence, without any finding on merits. On addition under s.28(iv) for free-of-cost assets, AO was directed to delete the addition to the extent the assessee-company proves that such assets were re-exported or destroyed as per owners' instructions, after verification. Disallowance under s.40(a)(i) for alleged TDS defaults under ss.194C and 194I was also remanded to AO for fresh decision after examining lower deduction certificates.
ITAT held that the Dispute Resolution Panel erred in applying the Finance Act 2021 amendment to s.32(1) retrospectively. The issue of depreciation on goodwill/intangible assets acquired under slump sale was remanded to the AO for de novo adjudication after considering additional evidence, without any finding on merits. On addition under s.28(iv) for free-of-cost assets, AO was directed to delete the addition to the extent the assessee-company proves that such assets were re-exported or destroyed as per owners' instructions, after verification. Disallowance under s.40(a)(i) for alleged TDS defaults under ss.194C and 194I was also remanded to AO for fresh decision after examining lower deduction certificates.
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