Both Valuation method and valuation expert should be assesee’s choice
Section 56(2)(viib) is inserted to tax receipt of consideration that is in excess of fair value of shares issued by…
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Today's
Total Irony ......Read More
Yesterday's CSR donations/expenses whether could otherwise qualify for deduction u/s80G ......Read More
Yesterday's CSR donations/expenses whether could otherwise qualify for deduction u/s80G ......Read More
Cash deposits
Pursuant to demonetisation ordinance in 1946 a husband and wife submitted High denomination notes in their respective names in [1953]…
......Read MoreRule for verification of unexplained deposits – assessee cannot be kept in dark
In the matter of examination of cash deposits the tribunal in [2022] 98 ITR (Trib) 499 (ITAT[Amrit] held that the assessee cannot…
......Read MoreNewspaper clippings as evidence of panic buying during demonetisation
To disbelieve the sales, either the assessee should have insufficient stocks in its possession or there must be defects in…
......Read MoreLong term lease fail to meet business tests…rentals assessable under house property/other sources
Of the property lease transaction the objects in the memorandum or deed alone may not decide the head under which…
......Read MoreLevy of taxes based on circumstantial evidence without following procedure of law
Here is a reopened case of a diamond merchant reported at [2021] 92 ITR (Trib) 647 (ITAT[Surat]) in which the…
......Read MoreScope of section 68
No addition u/s 68 etc can be made on the strength of suspicion so that the High Court in reading…
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Vide section 68 in respect of any loan or borrowing in its books the assessee has to prove the three…
......Read Moredifference between accounts and books of account
Deleting an addition on account of deposit of cash in bank account the Tribunal in [2019] 14 ITR (Trib)-OL 785…
......Read MoreGifts from relatives
In the matter before the High Court in ( 2021] 433 ITR 57 (Tripura) it was found that in the…
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