No pardon for professionally run company
In D & H Secheron Electrodes (P) Ltd. (281ITR421) the assessee company is found to have suppressed profits by: Debiting…
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Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Assessment of rental income in different scenarios
In 259ITR389 the assessee received besides rental income also received service charges and claimed even such as income assessable under…
......Read MoreTDS Defaults
The Jodhpur Bench of the ITAT in 109TAX284 (mag.) discharged the assessee from levy of penalty u/s 221 for failure…
......Read MoreIncomes under dispute
The Hyderabad bench of the ITAT in G V Narasa Reddy v. ITO( 125taxman) held that if there is any…
......Read MoreExorbitant profiteering can derail exemption
The counsel for the assessee in Shalom Charitable Ministries of India v Assistant CIT (2020) 81ITR (Tri) 20 argued before…
......Read MoreContingent benefit to employees
Section 15 broadly describes what chargeable salary is and more particularly refer to all sums due and payable/paid or allowed…
......Read MorePower to condone a delay
The Madras High Court in 233ITR745 held that the Board has powers to condonation of delays in every case of…
......Read MoreSpecial Audit- Wrong Call
In 267ITR345 the assessing officer sought various information to complete assessment correctly and such information could not be supplied by…
......Read MoreNon-application of mind may frustrate notice and consequent order
Validity of notice is key to an assessment. In Durga Ferrous P Ltd. CIT in ITA No. 672/Del/2019 dated 13…
......Read MoreAbsence of documentary evidence is no ground to reject an explanation
A fine judgment is rendered by the Delhi Tribunal in 80ITR (Trib) 436 holding as genuine a loss incurred in…
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