Contract to Infosys for Rs. 4242 Cr & a great reply to an Application under RTI

Recent Posts

• It is incorrect to deny ITC to recipient/buyer for genuine purchase , for default in compliance to show sales in GSTR 1 by supplier
• Applicability of Section 54F Where Assessee Holds a Jointly-Owned Residential Property
• Merely because a registered sale deed was not executed, the genuineness of consideration received under agreement to sell cannot be doubted
• Lack of definitive quantum of escapement and change of opinion: Gujarat HC held reopening invalid
• Section 153C arises only upon timely recording of satisfaction. If this foundational step is delayed without justification, subsequent actions lose legal validity: Gujarat HC
• Raipur ITAT on Penny Stock Addition: Not permissible mechanically without any direct evidence showing the assessee’s involvement in rigging or providing/receiving accommodation entries
• To have rectification power of ITAT under section 254(2), an issue must be self-evident without need for elaborate argument or re-examination.
• What is not taxable under section 5(2) cannot be brought to tax indirectly through a deeming fiction under section 69.
• Delhi HC upheld Concurrent Jurisdiction of JAO/FAO for issuing notice under section 148
• Profit on sale of assets is still taxable even if the block of assets continues to exist?