Budget 2023 Interest free borrowing transactions now taxable
Under section 2(24) (vd) of the Income tax Act , 1961, income would include the value of any benefit or…
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Today's
Budget 2023 Interest free borrowing transactions now taxable ......Read More
Yesterday's Membership/Entrance fee receipts are tax exempt——department slp dismissed by Supreme Court ......Read More
Yesterday's Membership/Entrance fee receipts are tax exempt——department slp dismissed by Supreme Court ......Read More
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…
......Read MoreProblematic 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)…
......Read MoreKeeping matters in abeyance is a lost exercise
By and large it is now settled that Commissioner (Appeals) or the Tribunal or the Court is not obliged to…
......Read MoreGratuity fund cobtribution held inadmissible for want of approval of deed of variation
In the absence of approval to deed of variation the contribution made to Employees Group Gratuity Funds held inadmissible in NATIONAL…
......Read MoreFailure to comply with the direction of the tribunal lead to annulling assessment
Here is a landmark ruling from a landmark judge DR. MS. ANITA SUMANTH J. of the Madras High Court in KALAIGNAR TV PVT.…
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