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...
Enhancement of short-term capital gains based on a departmental valuation failed because the Valuation Officer did not serve the statutory notice or afford the assessee an opportunity to object to the proposed fair market value. The Tribunal treated this as a procedural defect and denial of natural justice, so the valuation report could not be acted upon. The matter was remanded to the Assessing Officer for de novo adjudication after obtaining a fresh valuation report in accordance with law, and the appellate order on this point was set aside.
Enhancement of short-term capital gains based on a departmental valuation failed because the Valuation Officer did not serve the statutory notice or afford the assessee an opportunity to object to the proposed fair market value. The Tribunal treated this as a procedural defect and denial of natural justice, so the valuation report could not be acted upon. The matter was remanded to the Assessing Officer for de novo adjudication after obtaining a fresh valuation report in accordance with law, and the appellate order on this point was set aside.
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