54F exemption is protected even in multiple ownership of residential properties
On the basis of explanations regarding nature and use of various properties held by the assessee the tax officer in…
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Today's
54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's Club expenditure ......Read More
Yesterday's Club expenditure ......Read More
Club expenditure
Reporting items in tax audit report by the tax auditor could invite default disallowance. It so happened that the tax…
......Read MoreProfiteering is not permissible in the field of professional/educational courses
Recently the Delhi High Court came heavy on capitation fee collected for professional/educational courses. In refusing to grant exemption to…
......Read MoreEvery assessment year is independent
Rule of consistency clearly do not play much role in the matter of claim for deduction of business expenditure in…
......Read MoreDiversion of loans
Any instance of diversion of bank loan can lend the entire case to income tax scrutiny. The judgement in [2024]…
......Read MoreJoint holding of property can be a drawback too
Section 54F grant exemption from capital gains from sale of capital asset other than a house ( like plot, jewellery…
......Read MoreBogus Debtors ( unexplained)– A Source of Tax Exposure
Having bogus or unexplained debtors in books may result in double jeopardy for a taxpayer. Taxpayers should exercise caution while…
......Read MoreCash n All
If you hold, carry, deposit, invest, borrow or receive cash but can’t conclusively explain by evidence the nature, source and…
......Read MoreAll transactions in shares of penny stock company are not sham transactions
The Delhi High Court in case report [2025] 174 taxmann.com 918 (Delhi)[20-05-2025] given a clear signal that all transactions in…
......Read MoreTechnical objections have no place in appeal proceedings
Only because a taxpayer has omitted to file an appeal against a prima facie adjustment u/s 143(1) cannot prevent him…
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