Non application of mind
An order passed without considering the reply to the show cause and draft assessment order filed by the taxpayer is…
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Today's
Unwarranted additions- Need for Provision to Annex Computation of Income and Supporting Notes with ITR and Tax Audit Report ......Read More
Yesterday's 54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's 54F exemption is protected even in multiple ownership of residential properties ......Read More
Proviso to 2(15) is intent driven and has very limited application
For a charitable society that makes any profits their exemption claim is not determined on the basis of commercial nature…
......Read MoreRepairs deduction u/s30 (a) ( (I) to lessee/tenant is absolute
The High Court in (2022] 447 ITR 29 (All) held that renovation of bare shell premises taken for business would…
......Read MoreGujarat High Court advisory to AO
On noticing shortcomings in the assessment order the Gujarat high Court in [2022] 446 ITR 571 (Guj) issued following advisory to…
......Read MoreComputers and IPAD
Computers are entitled to higher depreciation rate. However in the Act no definition of “computer“ can be found. The bench…
......Read MoreUndue harassment to the assessee and chaos in administration of the tax laws
Harping on the Principles of judicial discipline the High Court in 2022] 446 ITR 734 (Telangana) held that the orders of the…
......Read MoreLiability cannot be created retrospectively-Non compete fee
Non compete fee is made taxable as trading receipt vide Finance Act 2003. The AO however imposed tax on such…
......Read MoreGeneric notice
Generic notice which are vague and suffer from ambiguity are liable to be challenged on the ground of non application…
......Read Moreshortfall or wrong TDS
In the context of disallowance scheme u/s 40(a) (ia) the Tribunal in (2022] 97 ITR (Trib) 714 (ITAT[Chen]) held that once…
......Read MoreNo GTI No MAT
The Tribunal in [2022] 98 ITR (Trib) 235 (ITAT[Kolk]) held that the provisions of section 115JB are not applicable when…
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