Membership/Entrance fee receipts are tax exempt——department slp dismissed by Supreme Court
The Supreme Court has dismissed the special leave petition filed by the Department against High Court decision @ [2023] 450 ITR…
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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
Problematic situation
In the PepsiCo case @(2023] 30 ITR (Trib)-OL 1 (ITAT[Del]) the subject matter of appeal was essentially covered by the previous…
......Read MoreDate of acquisition
The date of acquisition of the property is to be reckoned from the date of the allotment so stated by…
......Read MorePrior persons expenses are admissible under law
A sum of Rs. 10,51,176 were disallowed in assessment out of total marketing expenses of Rs. 2,23,24,218 in (2022] 29…
......Read MoreAO is not permitted to initiate rectification and reassessment simultaneously
Vide [2023] 450 ITR 1 (SC) the AO cannot choose to have parellel actions u/s154 nd 147 on the same dispute.…
......Read MoreSubsequent year assessment magic
While noting that in the subsequent year the interest cost was allowed in the proceedings completed under section 143(3)…
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