Unanswered questions may lead to revision action
Merely asking a question and not carrying it further can be a case of non-enquiry requiring issue of notice u/s…
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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
Do not forget to include notional value of vacant property in certain situations
The annual value of the properties if they are more than one which remain vacant throughout the previous year would…
......Read MoreWhether it is fair to reopen assessment on dynamic 26AS?
26AS with its dynamic character may see changes post filing of income tax return and such changes may lead to…
......Read MoreOnly Bona fide mistake curable u/s292B
Under the law in the case of a merger situation if a notice is issued to an erstwhile company, the…
......Read MoreEssentials to assessment
Opportunity to taxpayer and consideration of evidence are two basic essentials to income tax assessment mechanism. These two subjects to…
......Read MoreFinality cannot be disturbed in carrying out any rectification u/s154
The Kerala High Court in (2021) 18ITR-OL 459 stopped the AO from changing the method of computing deduction u/s 36(1)…
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