Sikhs/Hindus are old age expressions of charity
To derive 80G income tax exemption it is necessary that the donee institution is firstly established in India, only for…
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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
Revenue at huge loss to the exchequer for failing to follow restriction under proviso to section 147 while issuing notice u/s148.
Section 147 provide an opportunity to revenue to reopen an assessment even after a gap of 4 years subject to…
......Read MoreInterest overcharging under 119 A scheme
Income tax Act provide for charge of interest on demands of taxes and penalty as well as it has provisions…
......Read MoreCharity can be combined with religious activities
The Madras High Court in (2014) 2ITR-OL 191 held that a trust can have both charitable and religious objects and…
......Read Morestatutorily appeal is not the best course is all situations
The Madras High Court in [2021] 438 ITR 474 (Mad) advised taxpayer to plead the ground of violation of principles…
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