Transactions with dubious entities/persons
The Act calls upon a taxpayer to make full and true disclosure in income tax return and accompanying documents during…
......Read More
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
Special Audit- Wrong Call
In 267ITR345 the assessing officer sought various information to complete assessment correctly and such information could not be supplied by…
......Read MoreNon-application of mind may frustrate notice and consequent order
Validity of notice is key to an assessment. In Durga Ferrous P Ltd. CIT in ITA No. 672/Del/2019 dated 13…
......Read MoreAbsence of documentary evidence is no ground to reject an explanation
A fine judgment is rendered by the Delhi Tribunal in 80ITR (Trib) 436 holding as genuine a loss incurred in…
......Read MoreTax laws provide viable options to taxpayer
A taxpayer has twin courses available to him under the Income tax Act to avoid scrutiny assessment and consequent penalty/prosecution…
......Read MoreAssessing Jurisdiction
In the case of Mrs. Uma Loomba v. CIT (108TAX232) the assessee who carried on business in Amritsar shifted to…
......Read MoreReview/Rectification of order u/s 260(1)- Hotel/Theatre Business
In the case of Sasidhara Shenoy & Bros. V. Dy. CIT (108TAX116)(Ker.) the assessee owning a theatre claimed depreciation…
......Read MoreLevy of Interest u/s 234A,B & C
In an exparte ruling in the case of CIT v. R. Rammalingair (108TAX1) the Kerala High Court held that levy…
......Read MoreOnus discharge
The DHC in 350ITR407 held that it was not open to the assessee to direct the Assessing Officer to go…
......Read MoreSuccession of business
Before the Madras High court in CIT v. National Textile Corpn. Ltd. (109TAX300) there was a statutory transfer of a…
......Read More