Being a party to tax avoidance arrangement not enough to invoke GAAR, ‘participation’ is pre-requisite: South Africa HC
Get Ready: Fast Tag data integration with the e-way bill system set to move the Business from Unorganized Zone to Organised Zone
In the absence of the notice under section 143(2), assessment framed by AO was liable to be quashed as invalid
Deduction under section 80P(2) towards interest on deposits of savings bank account held with Kotak Mahindra Bank as a business requirement
Validity of Addition towards sale proceeds of the agricultural produce if Assessee produced all the documentary evidences towards ownership of land and towards carrying on agricultural activities
Bombay HC allowed a writ petition for application under Viwad Se Vishwas even when prosecution was launched
The country needs to come out of this tax culture that ‘businesses are all fraudulent!’ Even where 12 crore tax has been paid, just because some tax is still due, you can’t start attaching property
TDS disallowance u/s 40(a)(ia) is applicable while computing income chargeable under the head “Profits and gains of business or profession” and it is not applicable to any other heads of income.
Exemption under section 11 could not be denied on the ground that the audit report was not filed online along with the return.
The time limit of reckoning for section 54 is to be read as 139(4) and not as 139(1) as section 139(4) is also a sub-set of section 139(1).
No addition can be made for an unabated assessment, unless incriminating materials are unearthed during search qua the assessment year under consideration.
