Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Reassessment proceedings alleging fictitious mutual-fund losses and dividend income were quashed where the taxpayer was identically situated to one covered by a final earlier decision and the Revenue did not dispute its applicability. The order under section 148A(d) and the notice under section 148 were set aside because the earlier ruling had already quashed materially similar reassessment action on identical facts.
Reassessment proceedings alleging fictitious mutual-fund losses and dividend income were quashed where the taxpayer was identically situated to one covered by a final earlier decision and the Revenue did not dispute its applicability. The order under section 148A(d) and the notice under section 148 were set aside because the earlier ruling had already quashed materially similar reassessment action on identical facts.
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TaxTMI 
TaxTMI 
of 4918 
