No hearing opportunity required if corrigendum issued to levy penalty under different sec. had no major impact.
Government through the tax administration should help & provide a platform to assist the business to be tax compliant: An excellent judgment by ITAT Chandigarh.
Once the option of reduced base rate of 22% is exercised, the MAT credit is rendered useless and no deduction will be available
e-Assessment – Getting effective: Income Tax Authorities for Regional E assessment center notified by CBDT
Genuineness of loss couldn’t be doubted just because assessee sold mutual funds immediately after earning dividend
Explanation that the deposit of cash in the bank is out of the cash withdrawals from Bank Account earlier and validity of addition during income tax assessment
A Landmark judgment by Supreme Court : No service Tax & Vat on club , society or company registered under Section 25 of the companies Act.
Companies opting for old taxation rate for availing MAT credit will get benefit of 4.08% only in tax.