Only Bona fide mistake curable u/s292B
Under the law in the case of a merger situation if a notice is issued to an erstwhile company, the…
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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
Essentials to assessment
Opportunity to taxpayer and consideration of evidence are two basic essentials to income tax assessment mechanism. These two subjects to…
......Read MoreFinality cannot be disturbed in carrying out any rectification u/s154
The Kerala High Court in (2021) 18ITR-OL 459 stopped the AO from changing the method of computing deduction u/s 36(1)…
......Read MoreWhat does opportunity means in judicial terms
In a high profile case @ 436 ITR 340 the department invoked actions under section 153C and 148 both of…
......Read MoreReopening a case based on return is flawed under the law
To successfully manage reopening it is desirable for AO to meet the following four broad parameters : the conditions stipulated…
......Read MorePoint of limitation u/s 149
Once a notice u/s 148 is issued within the period of limitation, jurisdiction becomes vested in the ITO to proceed…
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Passing assessment order before the appointed day and time without considering reply filed by the assessee would amount to an…
......Read MoreDisaster for the assessee
Even when the High Court in [2021] 435 ITR 533 (Mad) formed a view that the invocation of section 148/147…
......Read MoreAO can now take refuge under reconceptualized escapement of income
Even when we are being critical of and debating the subject of the jurisdiction of the AO for procedural changes…
......Read MoreEscapement of income redefined
Even when we are debating on the subject of the jurisdiction of the AO for procedural changes brought by FA…
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