Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Failure to conduct enquiries which ought to have been made rendered the assessment order erroneous and prejudicial under Explanation 2 to section 263: the tribunal held the AO should have examined prior-year treatment and available facts when assessing year end provisions, and its omission vitiated the assessment. Similarly, absence of year specific enquiry into dealership agreements, incentive schemes and nature of payments (commission) defeated any valid application of section 194H and consequent disallowance under section 40(a)(ia). No verification was carried out for capitalised jigs, fixtures, dies and moulds; these verification failures collectively justified revision under section 263 and dismissal of the appeal.
Failure to conduct enquiries which ought to have been made rendered the assessment order erroneous and prejudicial under Explanation 2 to section 263: the tribunal held the AO should have examined prior-year treatment and available facts when assessing year end provisions, and its omission vitiated the assessment. Similarly, absence of year specific enquiry into dealership agreements, incentive schemes and nature of payments (commission) defeated any valid application of section 194H and consequent disallowance under section 40(a)(ia). No verification was carried out for capitalised jigs, fixtures, dies and moulds; these verification failures collectively justified revision under section 263 and dismissal of the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
