No Penalty u/s 271D & 271E if there is a Reasonable cause
No Penalty u/s 271D & 271E if there is a Reasonable cause Short Note:No Penalty u/s 271D & 271E if…
IT Judgement
No disallowance u/s 40A(3) if it was mandatory to purchase material in cash on holidays to complete construction in time: Delhi ITAT
No disallowance u/s 40A(3) if it was mandatory to purchase material in cash on holidays to complete construction in time:…
Important judgement on Ice-cream & Applicability of Composition scheme
Important judgement on Ice-cream & Applicability of Composition scheme While denying the benefit of composition scheme to M/s Milano…
Validity of Penalty u/s 271(1)(c) for Concealment or furnishing of inaccurate particulars if it is not specifically mentioned in assessment order
Validity of Penalty u/s 271(1)(c) for Concealment or furnishing of inaccurate particulars if it is not specifically mentioned in assessment…
Reassessment Notice after expiry of four years without recording reasons that escaped income is likely to exceed Rs. 1 Lakh is bad in law
Reassessment Notice after expiry of four years without recording reasons that escaped income is likely to exceed Rs. 1 Lakh…
Low profitability of recipient cannot be the criteria for Business disallowance u/s 40A(2)(b) being excessive or unreasonable payment
Low profitability of recipient cannot be the criteria for Business disallowance u/s 40A(2)(b) being excessive or unreasonable payment In absence…
Validity of Additions on the basis of ‘window-dressed’ financials prepared for bank loans.
Validity of Additions on the basis of ‘window-dressed’ financials prepared for bank loans. [Binod Kumar Agarwala v. CIT [2018] 94 taxmann.com 422…
Applicability of transfer pricing provisions w.r.t. specified domestic transactions – section 40A(2)(b)
Bombay High Court Ruling: The shareholdings of parent company and its subsidiary cannot be clubbed for the purposes of determining…
Beneficial Provision giving weighted deduction.
Section – 35AD Specified Business : Section 35AD provides for an investment linked incentive to assesse carrying on the specified…
Whether profit arising from hedging contract entered into by a manufacturer solely for the purposes of making profit out of its manufacturing activity can be claimed as deduction under section 80IB?
Whether profit arising from hedging contract entered into by a manufacturer solely for the purposes of making profit out of…
Mumbai ITAT Applies adjustment analogy u/s. 140A regarding tax-payments to ‘refunds’ also; Accepts taxpayer’s Section 244A interest computation
Mumbai ITAT Applies adjustment analogy u/s. 140A regarding tax-payments to ‘refunds’ also; Accepts taxpayer’s Section 244A interest computation Mumbai ITAT…
If rent is due for receipt only after fulfillment of certain conditions precedent, which are not yet fulfilled, then no addition for Income from house property is to be made : Mumbai ITAT
If rent is due for receipt only after fulfillment of certain conditions precedent, which are not yet fulfilled, then no…
“AO cannot ask for payment of even 20% of Disputed Tax till the disposal of the appeal by CIT-A – Bombay HC Decision”
“AO cannot ask for payment of even 20% of Disputed Tax till the disposal of the appeal by CIT-A –…
Section 80DD needs amendment to allow relief if maturity sum given before death of insured person: Supreme Court
Section 80DD needs amendment to allow relief if maturity sum given before death of insured person: Supreme Court Facts:…
Interest leviable on income added pursuant to reassessment order
Interest leviable on income added pursuant to reassessment order Where reassessment order was passed against assessee making addition to assessee’s…
Proceedings u/s 153A are analogous to proceedings under section 147, i.e., reassessment, to the extent that these proceedings are for the benefit of revenue and not that of the assessee
Proceedings u/s 153A are analogous to proceedings under section 147, i.e., reassessment, to the extent that these proceedings are for…
Notice u/s 148 invalid if other company charged for providing accommodation entry for merged with assessee company and thereby lost its legal existence
Notice u/s 148 invalid if other company charged for providing accommodation entry for merged with assessee company and thereby lost…
For section 50C, AO should refer capital asset to DVO for valuation even if not prayed for: Mumbai ITAT
For section 50C, AO should refer capital asset to DVO for valuation even if not prayed for: Mumbai ITAT of…
