Directors of private limited companies at risk
Budget-wise section 179 @ income-tax is amended to make directors of private companies accountable for payment of taxes in the…
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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
Waiver of interest for advance tax payment defaults
Often applications for waivers , revisions, S.197 applications etc are rejected by the Commissioner / CC / PrCIT by citing…
......Read MoreInterest overcharging under 119 A scheme
Income tax Act provide for charge of interest on demands of taxes and penalty as well as it has provisions…
......Read MoreCourt declines to intercept TRO powers under rule 11 of Schedule II in property attachment case
Section 281 deem certain transfers of assets void if they are transacted during the pendency of any proceeding under this…
......Read MoreHow the power to grant stay u/s 220(6) is to be exercised by the AO ?
Reading from one instruction to other and another the High Court in [2021] 18 ITR-OL 120 (Mad) held that clause…
......Read MoreNo WITHHOLDING OF REFUND without prior hearing
The Delhi High Court in [2021] 18 ITR-OL 1 (Del) in their landmark order issued constructive ease of doing business…
......Read MoreCPC manner of mechanised set off of refunds against pending demand decried
The High Court in [2021] 435 ITR 129 (Bom) reminded the department of the caution to be exercised in the…
......Read MoreHigh value additions
High-value Additions made on uncorroborated and untested statements of third parties ought to stay as held by Bombay High Court…
......Read MoreAttachment/Withholding of refund -No Court Remedy
Section 241A bestow discretion to the AO to withhold a refund determined under section 143(1) given that a notice is…
......Read MoreLegal method of recovery
There is a mandate in the law that a copy of the notice issued to the garnishee should be forwarded…
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