Gross breach of natural justice
In their classic order in (2001) 249ITR554 the Supreme Court upheld the High Court decision quashing/setting it aside the ex…
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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
TDS mismatch could mean loss of interest
There is a provision in section 244A(2) by which a taxpayer is deprived of interest on refund for any noticeable…
......Read Morerule 28AA is a bible to lower rate applications
The Delhi High Court ruling in (2022) 443ITR441 emphasised the importance of rule 28AA and denounced action of the AO…
......Read Moreprinciple of res judicata to the advantage of taxpayer
The High Court in [2022] 19 ITR-OL 707 (Cal) held that the rule of consistency requires to be interpreted on facts bearing in…
......Read MoreCSR qua donations
CSR expenses debited in profit and loss account are considered as non business expense under the law hence disallowed in…
......Read MoreUpdate personal details at income tax portal as well as in permanent PAN database
Updated jurisdictional details as well personal details in the Income-tax Web Portal are vital for the communication of notice, summons,…
......Read MoreLimitations of making application u/s 264
A taxpayer has a right to appeal an order that is prejudicial to him. Alternatively he can make application to…
......Read MoreNewspaper clippings as evidence of panic buying during demonetisation
To disbelieve the sales, either the assessee should have insufficient stocks in its possession or there must be defects in…
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