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...
Wrongful linkage of an individual's PAN to company bank accounts removed the factual basis for scrutiny where the account transactions were neither related nor attributable to that individual. Tax liability and consequential penalty could not be imposed on transactions belonging to the company. The assessment, penalty and demand orders, together with the revisional order, were set aside, without affecting other aspects of the matter.
Wrongful linkage of an individual's PAN to company bank accounts removed the factual basis for scrutiny where the account transactions were neither related nor attributable to that individual. Tax liability and consequential penalty could not be imposed on transactions belonging to the company. The assessment, penalty and demand orders, together with the revisional order, were set aside, without affecting other aspects of the matter.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4899 
