MAT- deductions permissible
The Bombay High Court in their ruling in the case of CIT v. Echjay Forgings Pvt. Ltd. (251ITR15) held that…
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Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
DISPUTED INCOMES
In the light of the Patna High Court ruling in the case of H.P. Biswas &Co. v. CIT (105TAX469) it…
......Read MoreStatutory liability and contractual liability.
In the case of Deputy Commissioner of Income-tax vs. Esquire Video Film Services (P.) Ltd (74ITD57) the assessee who followed…
......Read MoreGifts made to Dealers/Distributors- Is Trading Receipt
Often manufacturers come out with incentive schemes from time to time whereunder gifts in kind such as gold, vehicles or…
......Read MoreDiscrepancy in bank statement (stocks)- Deliberate or not deliberate
In CIT v. Punjab Rice & General Mills (2004) 137TAX314 the assessing officer made certain addition to the income on…
......Read MoreIf not bad debt then trading loss
In CIT v. Sree Ganesh Stores (2004) 137TAX261 the Madras Tribunal was persuaded to hold that the result of the…
......Read MoreCapital or revenue- Contribution for Building Construction
In CIT v. Rajasthan Spg. & Wvg. Mills Ltd. (2004) 137TAX249 the assessee running a textile mill set up an…
......Read MoreAccrual Concept under Income tax Act- Lesson to the Revenue
In Narasu Pictures Circuit (Pvt.) Ltd. Vs. Commissioner of Income-tax (80ITR82) the assessee showed commission received from a sister concern…
......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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