Doctrine of Res judicata or Estoppel- Inapplicable in Assessments
The MP High Court in Luchhiram Puranmal v. CIT (119TAX1) held that the assessment in earlier years does not bind…
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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
Waiver of Interest
In the case of CIT v. Punjab Agra Industries Corporation Ltd. (119TAX860) the assessee promoted a sister concern in a…
......Read MoreOrders on Merit- Case of Disregard of Well-defined procedures
The Karnataka High Court in the case of Munibyrappa (119TAX204) pointed out to the cavalier and careless manner in which…
......Read MoreTransfer of assets to spouse
The clubbing provisions have application when: a) there is transfer of asset by the assessee to his wife; b) the…
......Read MoreDeduction of tax at source Failure to deduct tax – Case of no loss to revenue
In the case of CIT v. Rishikesh Apartments Co-op. Housing Society Ltd. (119TAX239) the assessee failed to deduct tax u/s…
......Read MoreInterest liability- Under the Income tax Act, 1961
Following the Supreme Court ruling in the case of Bharat Commerce and Industries Ltd. Vs. Commissioner of Income-tax (230ITR733) the…
......Read MoreTest of Reasonableness
In the case of CIT v. Sahni Silk Mills (P.) Ltd. (119TAX133) it was found that the assessee, a manufacturing…
......Read MoreRole of Counsel
In the case of Joseph Kuruvilla Vs. Commissioner of Income-tax (234ITR55) the counsel for the assessee did not raise a…
......Read MoreAlternative Plea Allowed Part -II
In the case of CIT v. Mahalakshmi Textile Mills Ltd. (66 ITR 710) the assessee company all along in the…
......Read MoreAlternative Pleas/Grounds
Often assesses are found to have been making alternative pleas in the course of assessment proceedings or even before the…
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