Taxes are as certain as death
There is no provision in the law for stop filing of return ! The clock stops only with the death…
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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
31 DECEMBER 2023
Is also a last opportunity to taxpayers to revise their income tax returns for AY 2023-24 if and only if…
......Read MoreScope of judicial review in search matters
In search matters it is a settled law that the court cannot go into the sufficiency or adequacy of reasons…
......Read MoreDecember Reminder for advance tax
If you are a taxpayer this year and you expect a tax liability at the end of the current financial…
......Read MoreHospital running own pharmacy entitled to exemption on pharmacy incomes
Running of hospital by the society in (2023] 33 ITR (Trib)-OL 797 (ITAT[Raipur]) was considered by the AO as an…
......Read MoreIncome computation based on 26AS entries
26AS provide details of tax deducted or collected at source for the information of the taxpayer. In preparing return of…
......Read MoreCommissioner has wide powers to help taxpayers to set right any error in return no matter missing any deadlines
The High Court in (2023] 459 ITR 369 (Bom) held that since section 264 uses the expression ”any order”, it…
......Read MoreNo penalty till decision in appeal, is an absolute law
Section 41 of Black Money (undisclosed foreign income and assets) act, 2015 empowers AO to levy penalty three times of…
......Read MoreNo fetters on AO in dealing with stay applications
From time to time CBDT issue departmental instructions, administrative circulars or memorandum for guidance of its officers in the matter…
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