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...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Rule 86A limits restrictions on input tax credit in an electronic credit ledger to one year and provides a statutory route for unblocking. A person whose credit is blocked must approach the Commissioner for an order under Rule 86A(2). Where registration is subsequently cancelled and a demand is determined, unblocking cannot be pursued solely by relying on issues concerning communication of the blocking reasons. The cancellation and demand orders must first be validly challenged; an unblocking request may then be made in accordance with law.
Rule 86A limits restrictions on input tax credit in an electronic credit ledger to one year and provides a statutory route for unblocking. A person whose credit is blocked must approach the Commissioner for an order under Rule 86A(2). Where registration is subsequently cancelled and a demand is determined, unblocking cannot be pursued solely by relying on issues concerning communication of the blocking reasons. The cancellation and demand orders must first be validly challenged; an unblocking request may then be made in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
