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...
TDS credit cannot be denied in scrutiny assessment where the Revenue had already rectified the earlier intimation and granted the credit, leaving no surviving dispute on the same claim. The Tribunal held that the Assessing Officer overlooked the rectification order and that, in the absence of any asserted mismatch, deficiency in the claim, or failure to offer the corresponding income, the assessee remained entitled to the tax credit actually prepaid by TDS. The consequential interest levied under sections 234A and 234B was therefore deleted.
TDS credit cannot be denied in scrutiny assessment where the Revenue had already rectified the earlier intimation and granted the credit, leaving no surviving dispute on the same claim. The Tribunal held that the Assessing Officer overlooked the rectification order and that, in the absence of any asserted mismatch, deficiency in the claim, or failure to offer the corresponding income, the assessee remained entitled to the tax credit actually prepaid by TDS. The consequential interest levied under sections 234A and 234B was therefore deleted.
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