Condition 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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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
Reanalysis of existing facts
The Gujarat HC in 426ITR146 held that reopening on the basis of reanalyzing of the existing material is nothing but…
......Read MoreMind the Special audit
June 2013 onwards even doubts about the correctness of the accounts, multiplicity of transactions, and specialized nature of business activities…
......Read MoreTransactions 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 MoreSpecial 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…
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