Fictitious Cash sales
The SC while dismissing the SLP in [2023] 453 ITR 754 (SC)held that merely because the sales tax authorities have accepted cash…
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Today's
No double taxation no double recovery ......Read More
Yesterday's Brand valuation before conversion of partnership firm into private limited company ......Read More
Yesterday's Brand valuation before conversion of partnership firm into private limited company ......Read More
Additional window of opportunity for taxpayers
The Jodhpur bench of the Tribunal in (2023] 103 ITR (Trib) 388 (ITAT[Jodh] in allowing the miscellaneous application held that non-adjudication…
......Read MoreKeeping matters in abeyance is a lost exercise
By and large it is now settled that Commissioner (Appeals) or the Tribunal or the Court is not obliged to…
......Read MoreTaxpayer may avail appeal remedy against section 148A(d) order to save writ costs
Prior to reopening of a case the assessing officer is required to conduct an inquiry after affording opportunity to the…
......Read MoreOur Incredible paper books could unsettle settlements
The group of assessee’s with as many as 1500 search cases assessments managed settlement in their cases after a high…
......Read MoreErroneous offering of amounts as income
Merely because the assessee had erroneously offered a particular sum for taxation, the Revenue cannot take advantage of the ignorance…
......Read Morenon binding decision of the non-jurisdictional High Court
The bench of the Tribunal in (2022] 28 ITR (Trib)-OL 737 (ITAT[Agra] in a wake up call order caller for immediate redressal…
......Read MoreGujarat High Court advisory to AO
On noticing shortcomings in the assessment order the Gujarat high Court in [2022] 446 ITR 571 (Guj) issued following advisory to…
......Read MoreUndue harassment to the assessee and chaos in administration of the tax laws
Harping on the Principles of judicial discipline the High Court in 2022] 446 ITR 734 (Telangana) held that the orders of the…
......Read MoreApproach Courts of jurisdiction to fast-track reassessment
Tax officer has powers to reassess a case if he gathers any information suggestive of income escapement. Case closure in…
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