Date of acquisition
The date of acquisition of the property is to be reckoned from the date of the allotment so stated by…
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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
Prior 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.…
......Read MoreEducation for all by all
Here is a labour intensive company in the case reported at (2022] 29 ITR (Trib)-OL 602 (ITAT[Chen]) which has in its…
......Read Moreservice of draft assessment order and final show cause notice
The Madras High court in (2022] 449 ITR 351 (Mad) held that the requirement of show-cause notice/draft assessment order is mandatory…
......Read MoreUnregistered purchase/sale of land is a valid transaction for income tax
In the matter of grant of capital gains exemption u/54B with respect to back to back sale with purchase of…
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