Partners remuneration not to be counted for the purpose of Audit U/s 44AB

Partners remuneration not to be counted for the purpose of Audit U/s 44AB  IN THE HIGH COURT OF JUDICATURE AT BOMBAY  ORDINARY ORIGINAL CIVIL JURISDICTION  WRIT PETITION NO.1333 OF 2021   Perizad Zorabian Irani ….Petitioner    V/s.  Principal Commissioner of Income-Tax  (Central)-1 Mumbai & Ors …Respondents  ----   Dr. K. Shivram, ...
Read More

“We wonder whether the officers of respondents ever bother to read the papers before writing the reasons or recommending for approval or while granting approval”: Bombay HC Issues strictures against AO for total non-application of mind

"We wonder whether the officers of respondents ever bother to read the papers before writing the reasons or recommending for approval or while granting approval”: Bombay HC Issues strictures against AO for total non-application of mind A landmark order is ...
Read More

Applicability of Penalty under section 271(1)(c) for Discrepancy found during survey resulting in surrender by assessee when AO accepted declared income without any disturbance

Applicability of Penalty under section 271(1)(c) for Discrepancy found during survey resulting in surrender by assessee when AO accepted declared income without any disturbance   Short Overview  Even if some discrepancies were found during survey resulting in surrender of income by ...
Read More

Applicability of Penalty under section 271(1)(c) for Discrepancy found during survey resulting in surrender by assessee when AO accepted declared income without any disturbance

Applicability of Penalty under section 271(1)(c) for Discrepancy found during survey resulting in surrender by assessee when AO accepted declared income without any disturbance   Short Overview  Even if some discrepancies were found during survey resulting in surrender of income by ...
Read More