Diversion of loans
Any instance of diversion of bank loan can lend the entire case to income tax scrutiny. The judgement in [2024]…
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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
All transactions in shares of penny stock company are not sham transactions
The Delhi High Court in case report [2025] 174 taxmann.com 918 (Delhi)[20-05-2025] given a clear signal that all transactions in…
......Read MoreRight to reason HP Court pointer to flaw in section 148A
Ss (3) of section 148Astates that the Assessing Officer shall, on the basis of material available on record and taking…
......Read MoreIssue of notice at email address not in use and one belonging to old CA
By the decision from the Allahabad High Court in (2024] 471 ITR 68 (All) a taxpayer may seek quashing of…
......Read MoreCut and paste reopening
The AO cannot merely do a cut and paste job and go by previous case history for reopening the assessment…
......Read MoreNOTICE SOLELY ON AUDIT OBJECTION WITHOUT INDEPENDENT APPLICATION OF MIND
Reopening a closed assessment is a serious business and therefore ought to meet all the tests of reopening. The Supreme…
......Read MoreIncome computation based on 26AS entries
26AS provide details of tax deducted or collected at source for the information of the taxpayer. In preparing return of…
......Read MoreAO bound to supply/adduce ‘reasons to believe’ to initiate reassessment under the new scheme too, confirms Madras High Court
On the sole subject of assumption of jurisdiction for reassessment the Madras High Court decision in IDFC Bank case [2023]…
......Read MoreGoof-Up by CPC got to have fair recompense
It so happened that in (2023) 108ITR (Trib) 94 (Jodhpur bench) the Assessee having filed a return within due date…
......Read MoreSignificance of DIN
Circulars of the Board bind the Income-tax Officer as well as those holding Administrative authority such as Commissioner, PrCIT/DIT etc.…
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