Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Vacant unsold flats and shops held as stock-in-trade were treated as taxable under the head income from house property on a notional annual letting value basis, with computation required to follow municipal rateable value principles rather than an ad hoc percentage of investment. Unsupported business promotion expenditure was disallowed because no bills, vouchers or other documentary evidence were produced. The addition under section 43CA was deleted for assessment year 2017-18 because the variation between consideration and stamp valuation fell within the applicable tolerance band, which was held to apply retrospectively as a curative measure.
Vacant unsold flats and shops held as stock-in-trade were treated as taxable under the head income from house property on a notional annual letting value basis, with computation required to follow municipal rateable value principles rather than an ad hoc percentage of investment. Unsupported business promotion expenditure was disallowed because no bills, vouchers or other documentary evidence were produced. The addition under section 43CA was deleted for assessment year 2017-18 because the variation between consideration and stamp valuation fell within the applicable tolerance band, which was held to apply retrospectively as a curative measure.
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