An act in terrorem
In [2022] 445 ITR 622 (Raj)the CPC adjusted the refund against the demand in dispute before Commissioner ( A). The High…
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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
Export Commission to non resident director held chargeable at PE rate
Normally export commission is not chargeable to tax in india unless services are technical or specialised in nature and go…
......Read MoreWhat after cancellation of exemption/registration
The tax authorities have a right to cancel registration of trusts in some situations. At the same time the trust…
......Read MoreDTAA advantage for Interest incomes
Earnings from NRE account deposits are exempt from tax to certain class of individuals having non-residents or RNOR status under…
......Read MoreNeedless interference in assessment
The Commissioner has powers under the income tax act to revise an assessment order should there be any erroneous application…
......Read MoreSpecific purpose funds earnings non taxable
In the given facts in (2022] 28 ITR (Trib)-OL 110 (ITAT[Chand]) the ADB loans had been taken by the assessee…
......Read MoreDeduction for unprovided sum to NPA entities
To claim deduction of interest on actual payment it is not desirable that the assessee should have made a provision…
......Read MorePayment for use of facilities or technologies or infrastructure
The Bangalore ITAT in 28ITR(Trib) -OL 38 held that mere use of a facility is neither a payment for technical…
......Read MoreBonus or commission to directors in lieu of dividend – closely held entities may have exposure
Bonus or commission paid to employees for services rendered is a deductible expense ordinarily. However in case of such payments…
......Read MoreDate of acquisition of property
Neither did the possession not do the sale deed/registration is key to the acquisition of property. According to Bangalore bench…
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