Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
In valuation of house construction for unexplained investment, local State PWD rates were preferred over CPWD rates because they better reflect market conditions. The Tribunal also allowed a 15% deduction for self-supervision where no technical person was employed, after noting that the appellate authority had already corrected valuation defects and accepted the relevant measurements. After applying the rate adjustment and self-supervision relief, the difference with the books fell within the 5% tolerance band. No addition for cost of construction was therefore warranted, and the disputed valuation addition was deleted.
In valuation of house construction for unexplained investment, local State PWD rates were preferred over CPWD rates because they better reflect market conditions. The Tribunal also allowed a 15% deduction for self-supervision where no technical person was employed, after noting that the appellate authority had already corrected valuation defects and accepted the relevant measurements. After applying the rate adjustment and self-supervision relief, the difference with the books fell within the 5% tolerance band. No addition for cost of construction was therefore warranted, and the disputed valuation addition was deleted.
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