CBDT offers one time relaxation till 31st December for Compounding of offence under the Direct Tax Laws
CBDT vide Circular No. 24/2019 has laid guidelines for launchingprosecution in respect of certain Income Tax related offences
No TDS required on Commission payment to foreign agents on rendering of services and receipt of payments outside India if there is no PE in India
Validity of addition during Assessment under section 153A if no seized document found during search at assessee’s premises
In case of charitable trust, excess expenditure incurred in earlier years can be set off against the income of subsequent year
Section 68 had no application to facts of assessee’s case because assessee had duly disclosed donations as its income.
Validity of Addition under section 69C on the strength of statement of third party without opportunity of cross-examination
Draft Letter for Appointment of auditor along with consent, eligibility, CTC & intimation thereof under the Companies Act – 2013
Demonetization special case: Explanation of assessee rejected by the court for the reason that it is improbable that a businessmen would keep a large amount locked up till demonetization
Rejection of explanation that assessee mighy have changed high demonetization currency note is not improper
Onus is on assessee to prove the source and nature of an amount received by him is not in the nature of income to avoid its addition
Addition under section 68 towards Cash gift is not sustainable if Assessee is not required to maintain any books of accounts
Interesting case : Validity of addition where genuineness of business itself is doubted by Income Tax Authorities
TPO could not assume jurisdiction to determine arm’s length price of a specified domestic transaction not reported to him
