Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
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Redevelopment hardship and displacement compensation received for vacating residential premises under a redevelopment agreement is treated as a capital receipt where it is not consideration for independent services or otherwise revenue in nature. Its taxability does not depend on alternative-accommodation rent or an erroneous offer to tax. Gross salary reported in Form 26AS does not by itself determine taxable salary; exempt components, including eligible gratuity, require component-wise examination against Form 16 and settlement records. Documentary proof of a qualifying donation and bank payment supports the deduction. Savings-bank interest included in gross total income qualifies for the corresponding deduction within the prescribed limit.
Redevelopment hardship and displacement compensation received for vacating residential premises under a redevelopment agreement is treated as a capital receipt where it is not consideration for independent services or otherwise revenue in nature. Its taxability does not depend on alternative-accommodation rent or an erroneous offer to tax. Gross salary reported in Form 26AS does not by itself determine taxable salary; exempt components, including eligible gratuity, require component-wise examination against Form 16 and settlement records. Documentary proof of a qualifying donation and bank payment supports the deduction. Savings-bank interest included in gross total income qualifies for the corresponding deduction within the prescribed limit.
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