This examines why deductions under section 80GGC are being questioned in assessments. The key takeaway is that compliance with statutory conditions and procedural safeguards protects genuine claims.
This explains how an HUF is recognised as a separate taxable entity and how it is taxed. The key takeaway is that HUF remains a lawful and effective tax planning structure when used correctly.
This explains how SWPs create regular income while keeping capital invested. It highlights why calculators help structure assumptions around withdrawals and tenure.
The case analysis explores whether India’s anti-money laundering framework is effective despite comprehensive legislation. Courts have adopted a tougher stance, but enforcement gaps and evolving methods dilute deterrence. The key takeaway is the need for stronger implementation and regulatory coordination.
Restoring the Assessing Officer’s findings, the Tribunal ruled that excessive salary to related directors can be disallowed when it substitutes dividend distribution. Reasonableness must be judged against comparable market remuneration.
CESTAT Mumbai held that service tax demand order set aside since show cause notice [SCN] and adjudication order not duly served upon the appellant. Accordingly, appeal is allowed.
The issue was whether 100% of alleged bogus purchases could be disallowed despite accepted production and sales. The Tribunal held that only the embedded profit element can be taxed, not the entire purchase value.
The Tribunal held that revision under Section 263 is invalid where the Assessing Officer has conducted enquiries and adopted a plausible view. Mere disagreement by the Commissioner does not render the assessment order erroneous.
The Tribunal examined whether cost of improvement can be denied solely due to cash payments. It ruled that genuine documentary evidence is sufficient, reducing the section 50C addition substantially.
The issue was whether entire cash deposits and unsecured loans could be taxed as unexplained income. The Tribunal held that only the embedded profit is taxable and restricted the addition to 10%.
