Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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Revision under section 263 failed because CSR expenditure cannot be added to book profit under section 115JB except through the specific adjustments in the Explanation, and the Assessing Officer had no power to alter the audited accounts beyond those statutory items. The Tribunal also held that a section 14A read with Rule 8D disallowance cannot be imported into MAT book profit when tax liability is determined under section 115JB, so the omission to examine that issue caused no prejudice to the Revenue. As neither ground made the assessment order both erroneous and prejudicial, the revisionary order was quashed.
Revision under section 263 failed because CSR expenditure cannot be added to book profit under section 115JB except through the specific adjustments in the Explanation, and the Assessing Officer had no power to alter the audited accounts beyond those statutory items. The Tribunal also held that a section 14A read with Rule 8D disallowance cannot be imported into MAT book profit when tax liability is determined under section 115JB, so the omission to examine that issue caused no prejudice to the Revenue. As neither ground made the assessment order both erroneous and prejudicial, the revisionary order was quashed.
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