Failure to make disclosure – contractor case
In (2021] 433 ITR 48 (Mad) the assessee contractor followed the percentage of completion method of accounting for recognition of…
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Today's
All transactions in shares of penny stock company are not sham transactions ......Read More
Yesterday's Technical objections have no place in appeal proceedings ......Read More
Yesterday's Technical objections have no place in appeal proceedings ......Read More
‘Full and true disclosure’ aspect redefined
When it comes to reopening a case the Madras High Court in (2021] 17 ITR-OL 489 (Mad) recalled the Calcutta…
......Read MoreBudget take off – Right to appeal
Any reassessment before being initiated has to run through a preliminary inquiry and an order is to be made in…
......Read MoreLoss on account of failure to file return
Under section 147 of the Income tax Act the assessing officer has powers to reopen cases where income has escaped…
......Read MoreReport of investigation wing – statutory need for further examination and analysis
In the context of the question whether the AO CAN RELY ON REPORT OF INVESTIGATION WING the Jaipur bench of…
......Read MoreDELAY AND LACHES IN SCRUTINY PROCEEDINGS
In carrying out the indepth scrutiny and run through of the sequence of dates and events of the scrutiny proceedings…
......Read MoreOmission in tax audit report
Tax audit report is an annexure to the return of income so that if there is any omission to furnish…
......Read MoreDischarge of primary onus criteria-Cash Credits
In order to avoid the application of section 68, all that the law requires from the assessee is a satisfactory…
......Read MoreCondition for notice of reopening
The Ahmedabad bench of ITAT in 82ITR (Trib) (S.N.) 32 has been candid in pointing out that the AO can…
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