CSR donations/expenses whether could otherwise qualify for deduction u/s80G
In FDC case ruling by the Mumbai bench of ITAT in (2024] 119 ITR (Trib) 799 (ITAT[Mum]) which while setting…
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All transactions in shares of penny stock company are not sham transactions ......Read More
Yesterday's Technical objections have no place in appeal proceedings ......Read More
Yesterday's Technical objections have no place in appeal proceedings ......Read More
CSR payments
What is being considered as business disallowance u/s37 for CSR expense in computation may be claimable u/s 80G subject however…
......Read MoreSeparate units can be considered as separate business in computing s.80HHC relief
In a possible carve out from landmark IPCA ruling the High Court of Madras in [2022] 441 ITR 171…
......Read MoreSection 80AC held hyper technical, cannot go against the law
Vide ( 2022] 440 ITR 135 (Kar) the assessee withdrew claim for deduction under chapter VIA in revised return but…
......Read MoreWrongful claim of tax holiday
In 427ITR15 the assessee having deposited huge cash during the demonetization period claimed a tax holiday alleging that the cash…
......Read MoreYardsticks for business deductions – interplay of sections 28 and 37
The M P High Court in 278ITR345 held that to be an allowable expenditure within the provisions of section 37(1)…
......Read MoreCurrent and non current repairs
Not all repairs are entitled to the deduction. When one is using the premises of its own then the law…
......Read MoreDeduction u/s 80HHC- Flight Kitchen Sales
The Mumbai Bench of the ITAT in the case of Indian Hotels Co. Ltd. v. DCIT (107TAX205) in quashing the…
......Read MoreDeduction u/s 80HHC/80HHD- Formula Application
In the context of computation of deduction u/s 80HHC the Jaipur Bench of the ITAT in the case of Wolkem…
......Read MoreDefinition of New Industrial Undertaking
The Madras High Court in the case of CIT v. Premier Cotton Mills Ltd. (108TAX218) held that even substantial expansion…
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