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...
Common expenditure proportionately allocated to taxable non-member receipts of a mutual concern is deductible where the expenses are genuine, relate to earning those receipts, and the allocation method has been consistently followed; an estimated restriction without disclosed basis or cogent material cannot stand. The disallowance was deleted. Rent from terrace space leased to a cellular operator for a tower was treated as income from house property, attracting statutory deductions rather than income from other sources. The appeal succeeded on those issues. The challenge to the scrutiny notice for alleged non-compliance with CBDT instructions was dismissed because a cited Special Bench ruling covered the issue against the assessee.
Common expenditure proportionately allocated to taxable non-member receipts of a mutual concern is deductible where the expenses are genuine, relate to earning those receipts, and the allocation method has been consistently followed; an estimated restriction without disclosed basis or cogent material cannot stand. The disallowance was deleted. Rent from terrace space leased to a cellular operator for a tower was treated as income from house property, attracting statutory deductions rather than income from other sources. The appeal succeeded on those issues. The challenge to the scrutiny notice for alleged non-compliance with CBDT instructions was dismissed because a cited Special Bench ruling covered the issue against the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4907 
