Budget 2002- Must Declare Dividend On or Before 31.03.2002
Dividend exemption is proposed to be withdrawn after 31st March 2002 with a simultaneous withdrawal of 10.2% dividend tax. Any…
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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
Transfer of Assets to Spouse- II
The Madras High Court in CIT v. M S S Rajan (120TAX680) held that interest on fixed deposit made out…
......Read MoreDoctrine of Res judicata or Estoppel- Inapplicable in Assessments
The MP High Court in Luchhiram Puranmal v. CIT (119TAX1) held that the assessment in earlier years does not bind…
......Read MoreTransfer of assets to spouse
The clubbing provisions have application when: a) there is transfer of asset by the assessee to his wife; b) the…
......Read MoreGift of Immovable Property- Invalid if not registered
The Gujarat High Court in the case of Commissioner of Income-tax Vs. Mormasji Mancharji Vaid (250ITR542) observed that while interpreting…
......Read MoreRetracting Statement- Does Not Help
In the case of Dr. S.C. Gupta v. CIT (2001) 118TAX252 the assessee made surrender during the course of survey.…
......Read MoreSearch Action- Scope
In the course of survey conducted u/s133A the authorities seized books of account and certain documents in the case of…
......Read MorePrinciple of double taxation
Rowlatt J. in Commissioners of Inland Revenue v. Frank Bernard Sanderson 8 T. C. 38, 44, 45. (1921) in a…
......Read MoreClubbing of Minor’s/Spouse Income
In First Income-tax Officer vs. Sadanand A. Shetty (1ITD122) the issue was what is the amount to be included under…
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