Income Tax Raids at Kanpur: Main ‘directors’ admitted that they were only ‘dummy directors’ and signed on the dotted lines as and when required in return for commission for their ‘services’.
Real ease of business could be by merging CBDT & CBIC: An appeal to Hon’ble Prime Minister Sir by the Team Tax Talk
CBDT issues SOP for handling writ petitions where assessment is made under the Faceless Assessment Scheme 2019 or penalty is passed under Faceless Penalty Scheme, 2021 if NaFAC/CBDT is one of the respondents
Validity of disallowance of partners remuneration under section 40(b) on income declared during survey
Foreign travel expenses claimed in respect of wife not allowable if wife wasn’t an employee of assessee’s concern
If there is no positive credit standing in the electronic credit ledger on the date of the order, passed under Rule 86-A, that order would be read to create a lien upto limit specified
Consultancy fees paid for studying & preparing a strategy to reduce cost of production is eligible for deduction: HC