Club expenditure
Reporting items in tax audit report by the tax auditor could invite default disallowance. It so happened that the tax…
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Today's
Club expenditure ......Read More
Yesterday's Profiteering is not permissible in the field of professional/educational courses ......Read More
Yesterday's Profiteering is not permissible in the field of professional/educational courses ......Read More
Every assessment year is independent
Rule of consistency clearly do not play much role in the matter of claim for deduction of business expenditure in…
......Read MoreIn no way the AO has power to question arm’s length pricing in unrelated party transactions
Quoting from 288 ITR 1 (SC)- S. A. Builders Ltd.‘s case the Delhi bench of ITAT in UK INDIA BUSINESS…
......Read MoreProvision for doubtful debts is held admissible deduction u/s36(1)(vii)
By a landmark decision of the ITAT rendered in (2024] 120 ITR (Trib) 295 (ITAT[Bang]) it is held that where…
......Read MoreOral advice
In the case citation [2005] 275 ITR 491 (Mad) the assessee incurred consultancy expenditure for subscribing to “News Bulletin”/ “Information…
......Read MoreNew principle invented w.r.t allowance of business deduction – apprehension of company
In a strange case that came before Hon’ble Gujrat High Court, one fertiliser company in tax report [2024] 470 ITR…
......Read MoreOld disputes on Additional depreciation gaining in favour of taxpayer
Before 2016 amendment there have been instances of positions taken by the department in some cases that carry forward of…
......Read More✍️ Depreciation red flag🚩
For having registered motor car in the name of director even while showing it as part of fixed assets the…
......Read MoreLoan waivers – another controversy
Pune bench in (2023] 106 ITR (Trib) 342 (ITAT[Pune) in a transaction of negotiated settlement of borrowing in the case of real…
......Read MoreRule 8D(2) is no less a “guess estimate”
The company in H. T. MEDIA LTD. Case [2023] 22 ITR-OL 230 (Del) suo motu apportioned total salary cost of…
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