Discrepancy in bank statement (stocks)- Deliberate or not deliberate
In CIT v. Punjab Rice & General Mills (2004) 137TAX314 the assessing officer made certain addition to the income on…
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Provision for doubtful debts is held admissible deduction u/s36(1)(vii) ......Read More
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Yesterday's Total Irony ......Read More
Amalgamation expenses are allowable deduction
The Gujarat High Court in CIT v. Akme Electronics & Control (P.) Ltd. (2004) 137TAX263 allowed deduction of legal expenses…
......Read MoreIf not bad debt then trading loss
In CIT v. Sree Ganesh Stores (2004) 137TAX261 the Madras Tribunal was persuaded to hold that the result of the…
......Read MoreCapital or revenue- Contribution for Building Construction
In CIT v. Rajasthan Spg. & Wvg. Mills Ltd. (2004) 137TAX249 the assessee running a textile mill set up an…
......Read MoreOrder u/s 210(3) – Requiring payment of advance tax
In Punjab Tractors Ltd. v. Asstt. CIT (2004) 137TAX211 the assessing officer demanded advance tax on the basis regularly assessed…
......Read MoreTransfer of incorporeal rights – Eligible for section 80HHC Deduction
In Abdulgafar A Nadiadwala v. Asstt. CIT (2004) 137TAX112 the assessee transferred overseas film telecasting rights for a period of…
......Read MoreClubbing of Minor’s/Spouse Income
In First Income-tax Officer vs. Sadanand A. Shetty (1ITD122) the issue was what is the amount to be included under…
......Read MoreAccrual Concept under Income tax Act- Lesson to the Revenue
In Narasu Pictures Circuit (Pvt.) Ltd. Vs. Commissioner of Income-tax (80ITR82) the assessee showed commission received from a sister concern…
......Read MoreTax Free Incomes In Business- Fate of Related Expenditure
In CIT v. Indian Bank Ltd. [1965] 56 ITR 77 (SC), the assessee had income from interest on securities, both…
......Read MoreDeduction u/s 80HHC in MAT Scenario- Legislative Intent
The manner of computation of deduction u/s 80HHC for export profits earned is often a core of contention between an…
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