The PCIT questioned deduction under Section 80JJAA and CSR expenses but failed to record specific findings. The Tribunal held that absence of independent verification and reasoning renders the Section 263 order invalid.
Tax authorities may examine large or unusual digital transactions that don’t match declared income. Proper documentation and accurate reporting can prevent unnecessary notices.
Sections 5 and 6 determine whether global or only Indian income is taxable. Residential classification directly defines the scope of tax exposure.
The Income Tax Act treats business and professional income differently, affecting deductions and compliance. Correct classification prevents errors and penalties.
