Offences and prosecution – Black Money (Undisclosed Foreign Income and Assets) Act, 2015 on Non-disclosure of Foreign Investments in return
Deduction claimed u/s 80IB(8A) could not be denied to assessee till such time assessee was approved as R&D organisation by prescribed authority.
Revision u/s 263 when Assessee claimed deduction as loan written back under OTS scheme, considering it as “ capital receipt” not liable to tax
When assessee had provided all evidences of payment and payments were recorded in books of account, they were not liable to be added u/s 69C.
When the AO contradicts its own statment or no independent application of mind is demonstrated then the notice for initiating re-assessment is considered to be bad in law and hence not sustainable
Rigors of The Banning of Unregulated Deposit Scheme Ordinance, 2019 – realignment of financial transaction
