All transactions in shares of penny stock company are not sham transactions
The Delhi High Court in case report [2025] 174 taxmann.com 918 (Delhi)[20-05-2025] given a clear signal that all transactions in…
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Today's
All transactions in shares of penny stock company are not sham transactions ......Read More
Yesterday's Technical objections have no place in appeal proceedings ......Read More
Yesterday's Technical objections have no place in appeal proceedings ......Read More
Technical objections have no place in appeal proceedings
Only because a taxpayer has omitted to file an appeal against a prima facie adjustment u/s 143(1) cannot prevent him…
......Read MoreRight to reason HP Court pointer to flaw in section 148A
Ss (3) of section 148Astates that the Assessing Officer shall, on the basis of material available on record and taking…
......Read MoreWrong reopening
Here is a case of a person who is slapped with a notice of reopening on the basis of search…
......Read MoreIn no way the AO has power to question arm’s length pricing in unrelated party transactions
Quoting from 288 ITR 1 (SC)- S. A. Builders Ltd.‘s case the Delhi bench of ITAT in UK INDIA BUSINESS…
......Read MoreHouse purchase exemption
Reading from Supreme Court decision in 365ITR389 it appears material date of purchase or date of transfer of immovable property…
......Read MoreProvision for doubtful debts is held admissible deduction u/s36(1)(vii)
By a landmark decision of the ITAT rendered in (2024] 120 ITR (Trib) 295 (ITAT[Bang]) it is held that where…
......Read MoreTotal Irony
There are two adjoining sections 263 and 264. Whereas section 263 deal with orders prejudicial to the interest of revenue…
......Read MoreCSR donations/expenses whether could otherwise qualify for deduction u/s80G
In FDC case ruling by the Mumbai bench of ITAT in (2024] 119 ITR (Trib) 799 (ITAT[Mum]) which while setting…
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