Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
TDS credit could not be denied where income received after the taxpayer's husband's death was accepted and assessed in the legal heir's hands, even though the deduction was reflected against the deceased's PAN. The Tribunal held that once the assessee was recognised on the tax portal as the legal heir and the deceased's PAN had been surrendered, the Revenue could not tax the same income in her hands and simultaneously refuse credit for tax deducted from it. The objection that the return was not filed in the capacity of legal heir was rejected, and TDS credit with consequential refund and interest was directed.
TDS credit could not be denied where income received after the taxpayer's husband's death was accepted and assessed in the legal heir's hands, even though the deduction was reflected against the deceased's PAN. The Tribunal held that once the assessee was recognised on the tax portal as the legal heir and the deceased's PAN had been surrendered, the Revenue could not tax the same income in her hands and simultaneously refuse credit for tax deducted from it. The objection that the return was not filed in the capacity of legal heir was rejected, and TDS credit with consequential refund and interest was directed.
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