Income Taxother topicReassessment notice issued on question of facts can’t be challenged before High Court: Madras HC21 May 20220Reassessment notice issued on question of facts can’t be challenged before High Court: Madras HC Here is an interesting judgment…
IT JudgementIf there are multiple basket & multiple option of the market rates are available then option which is most favourable to assessee needs to be adopted for determining inter-unit transfer price u/s 80-IA(8)14 Jan 20220If there are multiple basket & multiple option of the market rates are available then option which is most favourable…
IT JudgementBusiness disallowance under section 40(a)(ia) on Payment of professional charges if such charges are not claimed in profit and loss account and same being capitalized1 Oct 20210Business disallowance under section 40(a)(ia) on Payment of professional charges if such charges are not claimed in profit and loss account…
Income TaxIf no exempt income is received or receivable on exempt income, no disallowance u/s 14A is warranted.15 Jul 20210If no exempt income is received or receivable on exempt income, no disallowance u/s 14A is warranted. Here is…
IT JudgementBusiness expenditure & Prior period expenses : Mercantile system of accounting vs. Crystallization of expenses3 Sep 20200Business expenditure & Prior period expenses : Mercantile system of accounting vs. Crystallization of expenses Short Overview The incomes or…
IT JudgementBusiness expenditure & Prior period expenses : Mercantile system of accounting vs. Crystallization of expenses3 Sep 20200Business expenditure & Prior period expenses : Mercantile system of accounting vs. Crystallization of expenses Short Overview The incomes or…
IT JudgementClaim made before CIT(A) without filing revised return need to be admitted as Equity demands that correct income of the assessee be ascertained.27 Aug 20200Claim made before CIT(A) without filing revised return need to be admitted as Equity demands that correct income of the…
IT JudgementSec. 14A couldn’t be invoked if no exempt income was earned during the year: SC dismissed SLP8 Aug 20180– SLP dismissed against High Court ruling that section 14A cannot be invoked where no exempt income was earned by…