Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
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Jurisdiction for notice under section 148 was tested on the material available when proceedings began, not on the income ultimately assessed. The Tribunal held that section 149(1)(b) permitted notice beyond three years where the Assessing Officer possessed books, documents or evidence indicating income represented in the form of an asset and likely to meet the statutory threshold. Cash withdrawals exceeding Rs. 1.50 crores, together with non-filing of a return, constituted tangible material for a prima facie view that the threshold was satisfied. The assessee's time-bar objection failed, and the reassessment notice was upheld as valid.
Jurisdiction for notice under section 148 was tested on the material available when proceedings began, not on the income ultimately assessed. The Tribunal held that section 149(1)(b) permitted notice beyond three years where the Assessing Officer possessed books, documents or evidence indicating income represented in the form of an asset and likely to meet the statutory threshold. Cash withdrawals exceeding Rs. 1.50 crores, together with non-filing of a return, constituted tangible material for a prima facie view that the threshold was satisfied. The assessee's time-bar objection failed, and the reassessment notice was upheld as valid.
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