The tribunal ruled that business income under section 44AD cannot be taxed using section 44ADA provisions. Presumptive schemes must be applied strictly as per law.
The tribunal held that the 10% safe harbour applies even to DVO valuations, not just stamp duty values. Minor valuation differences cannot trigger tax additions under section 56(2)(x).
The Court found that authorities wrongly denied promotion by misreading applicable service rules. It granted notional promotion with consequential benefits. The key takeaway is that correct interpretation of rules is essential in promotion matters.
The issue was whether high-turnover companies can be compared with a smaller software service provider. The Tribunal held that companies with disproportionately large turnover must be excluded as they distort comparability due to scale advantages.
The case involved additions made solely on an Excel sheet and a third-party statement alleging cash payments. The Tribunal ruled that such unverified material, without independent evidence, cannot justify additions.
The issue was whether penalty applies when a bogus donation claim is withdrawn after detection. The Tribunal held that post-detection withdrawal is not voluntary, and penalty for misreporting was rightly imposed.
The amendments streamline IPO compliance and improve disclosure usability. Key takeaway: SEBI enhances ease of doing business while making IPO documents more accessible to retail investors.
The issue highlights why most retail traders fail in financial markets. The content explains that structured education and disciplined risk management are essential for consistent trading perfor-mance.
The case addressed whether a special audit can be ordered without establishing complexity or defects in accounts. The Court examined whether mechanical invocation of Section 142(2A) without proper justification is legally sustainable.
The Court ruled that the reassessment notice was invalid as it exceeded the statutory 10-year limit under Section 153A. It clarified that the search year must be included in computing the extended limitation period.
