Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Page of 4811
Press 'Enter' after typing page number.
5661 to 5680 of 96208 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Revisionary jurisdiction was exercised where the Principal Commissioner found the trust deed empowered the trustee to add any person or charity to the class of beneficiaries, so benefits were not restricted to relatives; accordingly sums received could fall under the chargeable head invoked by the revising officer. The Tribunal agreed that the Assessing Officer failed to verify the genuineness of the trust's claim and did not form an express plausible view, making the AO's order erroneous and prejudicial and justifying revision under the statute; the assessee was given a chance to produce supporting evidence and the appeal was dismissed.
Revisionary jurisdiction was exercised where the Principal Commissioner found the trust deed empowered the trustee to add any person or charity to the class of beneficiaries, so benefits were not restricted to relatives; accordingly sums received could fall under the chargeable head invoked by the revising officer. The Tribunal agreed that the Assessing Officer failed to verify the genuineness of the trust's claim and did not form an express plausible view, making the AO's order erroneous and prejudicial and justifying revision under the statute; the assessee was given a chance to produce supporting evidence and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
