Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Priority of set-off: statutory treatment of unabsorbed...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking restrictions.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Priority of set-off: statutory treatment of unabsorbed depreciation as current year depreciation requires brought forward business losses to be adjusted first against business income, with unabsorbed depreciation usable only thereafter; AO directed to apply that order. Procedural requirement for invoking change in tax position: treating a later shareholding date to invoke a restriction on set-off amounted to enhancement of income and required issuance of an enhancement notice; denial of set-off on that ground was invalid for lack of such notice. Reversals and capital creditors: amounts voluntarily disallowed earlier and capital creditors for which no prior deduction was claimed are not taxable as income on write-back; related additions deleted.
Priority of set-off: statutory treatment of unabsorbed depreciation as current year depreciation requires brought forward business losses to be adjusted first against business income, with unabsorbed depreciation usable only thereafter; AO directed to apply that order. Procedural requirement for invoking change in tax position: treating a later shareholding date to invoke a restriction on set-off amounted to enhancement of income and required issuance of an enhancement notice; denial of set-off on that ground was invalid for lack of such notice. Reversals and capital creditors: amounts voluntarily disallowed earlier and capital creditors for which no prior deduction was claimed are not taxable as income on write-back; related additions deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
