Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Income declared under the IDS-2016 became chargeable to tax under the Income-tax Act in the previous year in which the declaration was made when the declarant failed to pay the tax, surcharge and penalty within the prescribed time. As the declaration was filed on 28.09.2016, the Tribunal held that the Revenue could not reopen and assess that amount in AY 2013-14. The reassessment and corresponding addition for that year were therefore unsustainable in law, and the addition was deleted.
Income declared under the IDS-2016 became chargeable to tax under the Income-tax Act in the previous year in which the declaration was made when the declarant failed to pay the tax, surcharge and penalty within the prescribed time. As the declaration was filed on 28.09.2016, the Tribunal held that the Revenue could not reopen and assess that amount in AY 2013-14. The reassessment and corresponding addition for that year were therefore unsustainable in law, and the addition was deleted.
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