Remission of Trading Liability
Following the full bench decision of the Apex Court in the case of CIT v. Bharat Iron & Industries (199ITR67/70TAX353)…
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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
Interest Free Advance to Sister Concern
Under section 260A inserted by the Finance (No. 2) Act, 1998 an assessee can directly appeal to the High Court…
......Read MoreDepreciation Allowance
In a landmark ruling the Supreme Court in the case of CIT v. Mahendra Mills (243ITR56) held that the assessing…
......Read MoreShares against technical knowhow
Here is a case of a joint venture company. The foreign partner has brought technical knowhow as capital contribution. The…
......Read MoreBusiness Expenditure
In The Case of CIT V. Tian House Service Ltd. (109TaX82) the board of directors of the assessee company resolved…
......Read MoreRemission or Cessation of Trading Liability
Before the Kerala High Court in the case of CIT v. Kesaria Tea Co. Ltd. (109TAX44) there was a case…
......Read MorePersonal User
The Ahmedabad Bench of the Tribunal in the case of DCIT v. Gujarat Filaments Ltd. (108TAX287) held that the assessing…
......Read MoreCentral Subsidy
Following the Apex Court ruling in the case of CIT v, P. J. Chemicals Ltd. (210ITR830) the Bombay High Court…
......Read MoreInsurance Money
In the case of CIT v. Needle Industries (India) Ltd.(108TAX524) the assessee is reimbursed for the loss of raw materials…
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