Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
DCF share valuation could not be discarded and replaced with another fair market value without first identifying a specific defect or non-compliance in the assessee's prescribed valuation report, so the addition for excess share premium under section 56(2)(vii)(b) was deleted. Protective assessment was confined to cases of doubt about the correct person chargeable to tax; where both additions were made in the same assessee's hands in the same year under different heads, that basis did not apply, so the section 68 protective addition was also deleted. The appeal was allowed.
DCF share valuation could not be discarded and replaced with another fair market value without first identifying a specific defect or non-compliance in the assessee's prescribed valuation report, so the addition for excess share premium under section 56(2)(vii)(b) was deleted. Protective assessment was confined to cases of doubt about the correct person chargeable to tax; where both additions were made in the same assessee's hands in the same year under different heads, that basis did not apply, so the section 68 protective addition was also deleted. The appeal was allowed.
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