Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Depreciation 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…
......Read MoreTax Free Incomes In Business- Fate of Related Expenditure
In CIT v. Indian Bank Ltd. [1965] 56 ITR 77 (SC), the assessee had income from interest on securities, both…
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The Gujarat High Court in Sayaji Iron & Engg. Co. v. CIT (2002) 121TAX43 held that the assessing officer has…
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