Source of source of source
Vide section 68 in respect of any loan or borrowing in its books the assessee has to prove the three…
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Today's
Club expenditure ......Read More
Yesterday's Profiteering is not permissible in the field of professional/educational courses ......Read More
Yesterday's Profiteering is not permissible in the field of professional/educational courses ......Read More
difference 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…
......Read MoreWhat can be used as evidence against the assessee?
The AO noted in the assessment order receipt of a final report from investigation intimating that 48 parties were operating…
......Read MoreHuman probabilities – A saving factor
The Bombay High Court in (2021] 432 ITR 152 (Bom) applied the adverse case ruling in SUMATI DAYAL v. CIT…
......Read MoreAO is bound to conduct independent inquiry during assessment
Vide (2021) 86 ITR (Trib) 174 (ITAT[Indore]) the bench held that the AO is duty-bound to make an independent inquiry…
......Read MoreLast minute summons /verifications fail
Where the AO issued summons under section 131 to enforce the attendance of the creditors at the fag end of…
......Read MoreWhen and how a retraction to surrender be made
In [2017] 10 ITR-OL 539 (Raj) when the assessee was asked to produce the donor she finally agreed to surrender…
......Read MoreTravesty of justice scenario in valuation of shares
In the matter of complex subject of valuation of shares the Bombay High Court in 164DTR 257 has held that…
......Read MoreThin line between business and other sources
There is often a dispute on whether an income earned from a commercial asset would fall under the head business…
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