Education cess deduction
The Delhi bench in (2021] 92 ITR (Trib) 434 following decisions of the coordinate benches in different regions like delhi…
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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
Rule for estimated addition
Income tax assessment is a highly subjective process yet very technical. A small error on either side can go adverse…
......Read MoreScenario of Leasing of commercial/business assets
Lease rentals received by the BIFR hooked taxpayer for leasing total business assets/ manufacturing plant under a rehabilitation scheme are…
......Read MoreHigher education in partnership setting is no personal to partner
By the decision of the Madras High Court carrying citation (2021] 18 ITR-OL 236 (Mad) even costs incurred for acquiring…
......Read MoreVoluntary expenditure under long term interest of business
Section 37(1) is basket section which can hold any kind of expenditure other than personal and capital expenditure. Vide…
......Read MoreCredit cards equate temporary loans — late payment interest held admissible
The Delhi bench of ITAT in [2021] 24 ITR (Trib)-OL 631 (ITAT[Del]) held that interest on late payment of credit…
......Read MoreTrade practice barometer
When once admitted that the payment of speed money is a trade practice which is followed by the shipping agents…
......Read MoreCompounding charges /Payments to MCD/DDA under mixed use regulations
In the report titled 2012] 20 ITR (Trib) 727 (ITAT[Del] the assessee made a payment to the Municipal Corporation of…
......Read MoreRule of consistency
The Supreme Court in [2015] 5 ITR-OL 277 (SC) held that rule of consistency is supreme unless the revenue could…
......Read MoreTelescoping of expenses and matching principle benefit entitlement in a search case
Here is a case of a real estate dealer reported at [2021] 434 ITR 97 (Kar) in whose case the…
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