When and how a retraction to surrender be made
In [2017] 10 ITR-OL 539 (Raj) when the assessee was asked to produce the donor she finally agreed to surrender…
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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
What is agricultural land?
The Income tax Act does not define the term ‘agriculture’. The A O in Shankar Dalal v CIT [2017] 10…
......Read MoreLoss on account of failure to file return
Under section 147 of the Income tax Act the assessing officer has powers to reopen cases where income has escaped…
......Read MoreSplitting of consideration between Land & Building
The Calcutta Bench of the ITAT in 79ITD192 ( 1992) held that the land is an independent and identifiable capital…
......Read MoreReport of investigation wing – statutory need for further examination and analysis
In the context of the question whether the AO CAN RELY ON REPORT OF INVESTIGATION WING the Jaipur bench of…
......Read MorePresumptive scheme for small business – Partner case
A Partner cannot claim the benefit of section 44AD on interest & remuneration received from firm, holds Madras High Court…
......Read MoreHigh Court Supremacy over coordinate benches – different views different jurisdictions
With reference to claim for set-off of long term capital loss pertaining to the STT paid transfer of equity shares…
......Read MoreAmendment restricting exemption
In the decision reported in (2020], 16 ITR-OL 25 (Kar) question arose whether exemption u/s 54F would be available for…
......Read MoreDefect in notice -a mixed question of fact and law
In (2020] 16 ITR-OL 3 (Mad) the counsel of the assessee for the first time before the High Court stated…
......Read MoreConflict between test of commercial expediency and test of business compulsion
The Cuttack in 20 ITR (Trib)-OL 1 raised the question on the business compulsion of the assessee for incurring an…
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