Participating in reassessment proceedings and implications
Having participated in the assessment proceedings the taxpayer cannot invoke extra ordinary justification of the Court to challenge any notice…
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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
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…
......Read MoreBudget glance -Ambiguity in new section 194R and bundled compliance obligation
In the 2022 budget tax proposals there is an insertion of section 194R seeking a tax withholding (TDS) on provision…
......Read MoreDisaster for insurance agents and doctors fraternity
Insurance agents commonly receive fringes and benefits in the form of foreign travel etc from their principal insurance companies just…
......Read MoreBudget glance -Doctors trouble
The Gujarat High Court in (2021] 439 ITR 692 (Guj)-INTAS PHARMACEUTICALS LTD., held that in the absence of an element…
......Read MoreAO cannot ignore Adjournment request @ Income Tax Portal
In [2022] 440 ITR 607 (Mad) an order of assessment was passed without taking note of the request of the…
......Read MoreCosts incurred after the date of purchase when qualifying for exemption
The AO in the reassessment proceedings in [2019] 14 ITR (Trib)-OL 672 (ITAT[Jai]) while evaluating a transaction for capital gains…
......Read MoreTrigger in Bad debts write off claims
Any bad debt write allowance come with a trigger. By the tax case reported at (2017) 54ITR (Trib) (SN) 8…
......Read MoreSubstantial Leasehold improvements qua extensive Renovation expenditure of 47 crores
In [2022] 93 ITR (Trib) 1 (ITAT[Del]) ( dominos and dunkin donuts chain of stores) one of the ground pertained…
......Read MoreDepartment cannot effect change in method of accounting adopted by taxpayer consistently
In the case of real estate developer in [2022] 19 ITR-OL 33 (Kar) the AO replaced the computation of profits…
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