Mind the Special audit
June 2013 onwards even doubts about the correctness of the accounts, multiplicity of transactions, and specialized nature of business activities…
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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
Transactions with dubious entities/persons
The Act calls upon a taxpayer to make full and true disclosure in income tax return and accompanying documents during…
......Read MoreHeight of perversity
Pointing out more than one perversity in the findings of fact by the AO/DRP/Tribunal the Supreme Court in DIT (International…
......Read MoreNo pardon for professionally run company
In D & H Secheron Electrodes (P) Ltd. (281ITR421) the assessee company is found to have suppressed profits by: Debiting…
......Read MoreAssessment of rental income in different scenarios
In 259ITR389 the assessee received besides rental income also received service charges and claimed even such as income assessable under…
......Read MoreTDS Defaults
The Jodhpur Bench of the ITAT in 109TAX284 (mag.) discharged the assessee from levy of penalty u/s 221 for failure…
......Read MoreIncomes under dispute
The Hyderabad bench of the ITAT in G V Narasa Reddy v. ITO( 125taxman) held that if there is any…
......Read MoreExorbitant profiteering can derail exemption
The counsel for the assessee in Shalom Charitable Ministries of India v Assistant CIT (2020) 81ITR (Tri) 20 argued before…
......Read MoreContingent benefit to employees
Section 15 broadly describes what chargeable salary is and more particularly refer to all sums due and payable/paid or allowed…
......Read MorePower to condone a delay
The Madras High Court in 233ITR745 held that the Board has powers to condonation of delays in every case of…
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