Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 194-IA applies transferee-wise, so the threshold for TDS on purchase of immovable property must be examined with reference to each joint transferee's share of consideration. Where an assessee's individual share is below the statutory limit, tax deduction cannot be insisted on merely because the total consideration under a single sale deed exceeds that limit. The order treating the assessee as in default under section 200A, and the appellate order sustaining it, were therefore unsustainable and the demand was set aside.
Section 194-IA applies transferee-wise, so the threshold for TDS on purchase of immovable property must be examined with reference to each joint transferee's share of consideration. Where an assessee's individual share is below the statutory limit, tax deduction cannot be insisted on merely because the total consideration under a single sale deed exceeds that limit. The order treating the assessee as in default under section 200A, and the appellate order sustaining it, were therefore unsustainable and the demand was set aside.
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