Interest on Amount Refundable on Reassessment
In a set aside case, being relevant to A.Y. 1989-90 or any earlier year, the assessee made a claim for…
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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
Extinguishment of Right
The Bombay High Court in the case of CIT v. Hade Navigation (P.) Ltd. (107TAX372) redefined the law laid down…
......Read MoreLoans for business advantage
The Delhi High Court in CIT v. Creative Dyeing & Printing (P) Ltd. (2009) 184TAX483 held that the amount advanced…
......Read MoreAssessment proceedings – Revised computation without revised ITR- Pragmatic View versus Technical Considerations
In a situation where a deduction is not claimed in the return but claimed by filing a revised computation…
......Read MoreWithdrawal of claim by letter- Not a case of revised return- Amitabh Bachchan Case fallout
It is an acceptable law that a letter or application to the Assessing Officer requesting for either adding some…
......Read MoreHard hitting advisory on TDS non-compliance- Reliance case judgment- Penalty and prosecution absolute
Case of default in deposit of TDS In a hard hitting judgment of the Bombay High Court in Reliance…
......Read MoreWhether repayments of housing loan qualify for deduction u/s 80C prior to obtaining possession?
Among several avenues of investments that qualify for deduction u/s 80C clause (xviii) of sub-section (2) of section 80C provide…
......Read MoreNeed for Reform in Case Selection and TDS Exemption Mechanism
Assessments -Manual Selection of a Case -Certain Fallacies Fallacy 1 A case is selected for scrutiny as per the guidelines…
......Read MoreS.54EC amendment- Removal of Ambiguity- Bad News or Good News
Of all those who are going to make a claim for exemption u/s 54EC of Rs. 1 crore in…
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