Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Receipt on premature surrender of a pension policy was held to require examination under section 80CCC(2) in light of the true nature of the amount received. The Tribunal found that the Assessing Officer had taxed it as income from other sources without properly considering the statutory provision, the factual matrix, or the assessee's submissions and documentary evidence. As the reassessment and addition were made without due legal appreciation, the addition was directed to be deleted and the appeal was allowed.
Receipt on premature surrender of a pension policy was held to require examination under section 80CCC(2) in light of the true nature of the amount received. The Tribunal found that the Assessing Officer had taxed it as income from other sources without properly considering the statutory provision, the factual matrix, or the assessee's submissions and documentary evidence. As the reassessment and addition were made without due legal appreciation, the addition was directed to be deleted and the appeal was allowed.
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