Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
Dispute concerns multiple corporate assessment adjustments: the tribunal held depreciation disallowance unsustainable where assets were purchased through banking channels, recorded in audited books and legitimately owned and used, and directed deletion. Warranty provision deduction was recalculated and remitted to the AO to grant the correct deductible amount. Rental receipts from trailer leasing were held to be business income, not income from house property, and relevant additions were deleted. Carry forward of losses was remitted for correct computation. TDS shortfall claims were ordered verified with submitted evidence. Addition on share premium was deleted as consideration received from a non-resident is outside the relevant taxable scope. Ad hoc disallowances on vehicle repairs and residual settlements were deleted; depreciation on plant and verification of put-to-use dates was directed to AO.
Dispute concerns multiple corporate assessment adjustments: the tribunal held depreciation disallowance unsustainable where assets were purchased through banking channels, recorded in audited books and legitimately owned and used, and directed deletion. Warranty provision deduction was recalculated and remitted to the AO to grant the correct deductible amount. Rental receipts from trailer leasing were held to be business income, not income from house property, and relevant additions were deleted. Carry forward of losses was remitted for correct computation. TDS shortfall claims were ordered verified with submitted evidence. Addition on share premium was deleted as consideration received from a non-resident is outside the relevant taxable scope. Ad hoc disallowances on vehicle repairs and residual settlements were deleted; depreciation on plant and verification of put-to-use dates was directed to AO.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
