Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Cancellation of registration under section 12A was challenged on grounds that the assessing officer treated non maintenance of books for business incidental to objects (clause (b) of the Explanation to section 12AB(4)) as the ground without issuing a show cause notice or hearing. The tribunal found clause (b) distinct from clause (e) (activity not genuine) and held absence of opportunity prejudicial; it admitted additional evidence sought by the assessee and set aside the cancellation order for de novo adjudication by the CIT(E) after considering the newly filed evidence. Appeal partly allowed and remand ordered.
Cancellation of registration under section 12A was challenged on grounds that the assessing officer treated non maintenance of books for business incidental to objects (clause (b) of the Explanation to section 12AB(4)) as the ground without issuing a show cause notice or hearing. The tribunal found clause (b) distinct from clause (e) (activity not genuine) and held absence of opportunity prejudicial; it admitted additional evidence sought by the assessee and set aside the cancellation order for de novo adjudication by the CIT(E) after considering the newly filed evidence. Appeal partly allowed and remand ordered.
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