Tax audit celings in mixed bag of receipts from business and profession
The Court in [2022] 20 ITR-OL 488 (Bom) held that the celing of 1 cr and 50 lacs for business and…
......Read More
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
Software expenditure, whether revenue or capital
Bengaluru is considered as the Silicon Valley of India which consumes bulk of the software purchases. The Karnataka high court…
......Read MoreTaxpayer may avail appeal remedy against section 148A(d) order to save writ costs
Prior to reopening of a case the assessing officer is required to conduct an inquiry after affording opportunity to the…
......Read MoreTravel expenses of family members of employee is personal nature expense
The Tribunal in [2022] 29 ITR (Trib)-OL 127 (ITAT[Del]) held that unless the visit of the family members of the directors had any…
......Read MoreWrong initiation
When in the assessment order, no specific finding had been found recorded by the AO as to whether it was…
......Read MoreIndustrial royalty payments
By the Pune bench decision in 2022] 99 ITR (Trib) 585 (ITAT[Pune])consideration payable for use of the information and communications technology infrastructure set…
......Read MoreOur Incredible paper books could unsettle settlements
The group of assessee’s with as many as 1500 search cases assessments managed settlement in their cases after a high…
......Read MoreMiserable on income tax lawmakers
In a most dreadful situation the Supreme Court in [2022] 447 ITR 766 (SC) were cornered with a question whether the Tribunal…
......Read MoreAddition rule u/s 68 for sundry creditors
In the context of AO’s possible act to make addition for unverifiable sundry creditors the tribunal in (2022] 29 ITR…
......Read MoreRule for verification of unexplained deposits – assessee cannot be kept in dark
In the matter of examination of cash deposits the tribunal in [2022] 98 ITR (Trib) 499 (ITAT[Amrit] held that the assessee cannot…
......Read More