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- Form 70 Income Tax Rules 2026 pdf download and Key points
- Penalty under Section 270A cannot be levied for disallowances already made in the Section 143(1) intimation.
- Additions in search assessments for “unabated” years are illegal without specific incriminating material.
- APAs signed with the CBDT are binding; the TPO cannot override them with standard ALP adjustments.
- Adoption of Stamp Duty Value without referring to a Valuation Officer is illegal if the taxpayer objects.
- Buy-back of shares results in extinguishment of capital, not “acquisition of property” under Section 56(2)(x).
- Form 69 Income Tax Rules 2026 pdf download and Key points
- General promotional costs are deductible immediately, while project-specific costs must be capitalized as Work-in-Progress.
- Registration cannot be denied to new trusts solely because activities have not commenced or involve member conferences.
- Registration cannot be denied based on commercial activity; CSR funds are not “commercial receipts.”
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