No incriminating material found during the course of search : Addition not sustainable as it is outside the scope of section 153A.
No incriminating material found during the course of search : Addition not sustainable as it is outside the scope of…
IT Judgement
Alleged bogus LTCG of penny stock : Probability of preponderance without any direct evidence to prove the transactions as non-genuine or sham or demonstrating appellant’s involvement in any kind of manipulation is illegal and cannot sustain.
Alleged bogus LTCG of penny stock : Probability of preponderance without any direct evidence to prove the transactions as non-genuine…
If the assessee uses motor lorries partly for own use and for hire charges he is not entitled to claim excess depreciation @ 30% as per the provisions of Sec. 32 of the Income Tax Act
If the assessee uses motor lorries partly for own use and for hire charges he is not entitled to claim…
Music formed the raw material for assessee engaged in manufacturing and sale of music cassettes, compact discs (CDs) etc.
Music formed the raw material for assessee engaged in manufacturing and sale of music cassettes, compact discs (CDs) etc. Short…
Rule 11 of ITAT Rules, 1963 empowers the appellant to urge any ground not set forth in the memorandum of appeal & it also empowers Tribunal
Rule 11 of ITAT Rules, 1963 empowers the appellant to urge any ground not set forth in the memorandum of…
Exemption under section 10(13A) on House Rent Allowance (HRA)- Performance bonus whether part of salary?
Exemption under section 10(13A) on House Rent Allowance (HRA)- Performance bonus whether part of salary? Short Overview ‘Performance bonus’ does…
Assessment on Excess capitalization of asset and consequently excess depreciation claimed by assessee in collusion with contractors
Assessment on Excess capitalization of asset and consequently excess depreciation claimed by assessee in collusion with contractors Short Overview Since…
Validity of Search and seizure assessment if AO issued notice under section 153C instead of section 153A
Validity of Search and seizure assessment if AO issued notice under section 153C instead of section 153A Short Overview Where…
Transfer Pricing adjustment made on the basis on incorrect appreciation of facts is not sustainable
Transfer Pricing adjustment made on the basis on incorrect appreciation of facts is not sustainable Case Law Citation: – Assistant…
Prescribed Authority under Section 133C notified by CBDT vide Notification No. 66/2020, Dated: August 13, 2020.
Prescribed Authority under Section 133C notified by CBDT vide Notification No. 66/2020, Dated: August 13, 2020. Government of India Ministry of…
Faceless Assessment: 34 Authorities notified by CBDT
Faceless Assessment: 34 Authorities notified by CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct…
No registration required for family arrangement done by way of memorandum of settlement: Supreme Court
No registration required for family arrangement done by way of memorandum of settlement: Supreme Court Ravinder Kaur Grewal & Ors.…
Procedure for Faceless Assessment Notified by CBDT
Procedure for Faceless Assessment Notified by CBDT MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No.…
CBDT permitted issuance of Notice to the Assessee, asked to be sensitive in view of the hardships being faced by the taxpayers due to COVID 19
CBDT permitted issuance of Notice to the Assessee, asked to be sensitive in view of the hardships being faced by…
Validity of assessment reopening if the Assessee has already disclosed the true and correct fact to AO during original assessment
Validity of assessment reopening if the Assessee has already disclosed the true and correct fact to AO during original assessment…
Vishwakarma Puja by a company cannot be allowed any deduction under s. 37(1): Chhtisgarh High Court
Vishwakarma Puja by a company cannot be allowed any deduction under s. 37(1): Chhtisgarh High Court Para 18 of the…
Home Loan Default not to impact the capital gain exemption: Hyderabad ITAT
Home Loan Default not to impact the capital gain exemption: Hyderabad ITAT The capital gain exemption can be withdrawn if…
Interesting Case: CIT (TDS) directed to recompute the interest payable u/s 201(1A) by taking a period of 30 days as a month, instead of British calendar month.
Interesting Case: CIT (TDS) directed to recompute the interest payable u/s 201(1A) by taking a period of 30 days as…
 directed to recompute the interest payable u/s 201(1A) by taking a period of 30 days as a month, instead of British calendar month.){kind=link}
 directed to recompute the interest payable u/s 201(1A) by taking a period of 30 days as a month, instead of British calendar month.&description=&image=https://thetaxtalk.com/wp-content/uploads/2020/08/Untitled-2069-min.png){kind=link}