Piara singh case no longer a good law
In the well known case of piara singh the asessee was found to be in the business of smuggling of…
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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
Brand valuation before conversion of partnership firm into private limited company
In [2022] 29 ITR (Trib)-OL 602 (ITAT[Chen]) the assessee company is held eligible for claim of depreciation on brand value…
......Read MoreLoss from Writing off investments in subsidiary to promote top line is admissible under law
Where the assessee company makes investment in its 100 per cent. subsidiary for extension of business marked by additional capacities in…
......Read MoreCapital vs revenue – whether treatment in accounts can be the deciding factor!
Having capitalised an expense in the books there could arise a difficulty to further claim it deductible expenditure u/s37. In…
......Read MoreAbuse to “ease of doing business”policy of GOI- contempt case
A ruling of the tribunal in Flipkart Online Services Pvt. Ltd. Case (2018] 92 taxmann.com 387 (Bangalore – Trib.)/[2018] 64…
......Read MoreDirectors bonus payments
The Delhi High Court in (2023] 451 ITR 389 (Del) in a private company case held that there is no bar…
......Read MoreBudget 2023 Interest free borrowing transactions now taxable
Under section 2(24) (vd) of the Income tax Act , 1961, income would include the value of any benefit or…
......Read MoreMembership/Entrance fee receipts are tax exempt——department slp dismissed by Supreme Court
The Supreme Court has dismissed the special leave petition filed by the Department against High Court decision @ [2023] 450 ITR…
......Read MorePrior persons expenses are admissible under law
A sum of Rs. 10,51,176 were disallowed in assessment out of total marketing expenses of Rs. 2,23,24,218 in (2022] 29…
......Read MoreSubsequent year assessment magic
While noting that in the subsequent year the interest cost was allowed in the proceedings completed under section 143(3)…
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