Loans for business advantage
The Delhi High Court in CIT v. Creative Dyeing & Printing (P) Ltd. (2009) 184TAX483 held that the amount advanced…
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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 proceedings – Revised computation without revised ITR- Pragmatic View versus Technical Considerations
In a situation where a deduction is not claimed in the return but claimed by filing a revised computation…
......Read MoreWithdrawal of claim by letter- Not a case of revised return- Amitabh Bachchan Case fallout
It is an acceptable law that a letter or application to the Assessing Officer requesting for either adding some…
......Read MoreHard hitting advisory on TDS non-compliance- Reliance case judgment- Penalty and prosecution absolute
Case of default in deposit of TDS In a hard hitting judgment of the Bombay High Court in Reliance…
......Read MoreWhether repayments of housing loan qualify for deduction u/s 80C prior to obtaining possession?
Among several avenues of investments that qualify for deduction u/s 80C clause (xviii) of sub-section (2) of section 80C provide…
......Read MoreNeed for Reform in Case Selection and TDS Exemption Mechanism
Assessments -Manual Selection of a Case -Certain Fallacies Fallacy 1 A case is selected for scrutiny as per the guidelines…
......Read MoreS.54EC amendment- Removal of Ambiguity- Bad News or Good News
Of all those who are going to make a claim for exemption u/s 54EC of Rs. 1 crore in…
......Read MoreSEZ Income Deduction u/s 10AA- Not So Controversial
The manner of computation of allowance of deductions u/s 10A, 10AA, 10B and 10BA under Chapter III of…
......Read More2G Spectrum allotment –Presumptive loss of 176,645 crore (US$33.56 billion)??- 2/2/12 Supreme Court ruling a boon for revenue
The Supreme Court in their recent ruling in Centre of Public Interest Litigation and others v. Union of India…
......Read MoreInterest free advance to associate concerns
In the case of Gujarat Narmada Valley Fertilisers Co. Ltd. V. Dy. CIT (108TAX213) the assessing officer disallowed part…
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