classic case of DRP failure
The Delhi bench of ITAT in 107ITR( Trib) (SN) 93 encountered non-resident’s case reopening on irrelevant considerations. In the reasons…
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Today's
Right to reason HP Court pointer to flaw in section 148A ......Read More
Yesterday's Wrong reopening ......Read More
Yesterday's Wrong reopening ......Read More
Taxpayer need to preserve income tax papers/income statements /bank statements/pay slips etc. for 3 more assessment years
In [2023] 458 ITR 437 (SC) the dispute was whether the taxpayers are required to preserve records beyond 6 years.…
......Read MoreMost Favoured Nation clause (MFN) in tax treatise is made most difficult to give effect to
In the matter of interpretation of treaties the Supreme Court in their decision in [2021] 432 ITR 471 (SC) held…
......Read MoreOutsourcing/sub-contracting could sense grey area in NR PE factor- IBM case scenario
In an interesting situation IBM India obtained a contract to undertake payroll and data management function for P&G India in…
......Read MoreAppeal and cross appeals to be heard and decided together
In setting a direct and binding precedence for Income Tax Appellate Tribunal the Bombay High Court in Linklaters case (2023)…
......Read MoreJAO is held incompetent to proceed with assessment/reassessment of cases under his permanent jurisdiction
In a new development the Telangana High Court set aside the notices issued u/s 148/148A and consequent orders passed by…
......Read More✍️ Depreciation red flag🚩
For having registered motor car in the name of director even while showing it as part of fixed assets the…
......Read MoreBoth Valuation method and valuation expert should be assesee’s choice
Section 56(2)(viib) is inserted to tax receipt of consideration that is in excess of fair value of shares issued by…
......Read MoreThe 20% payment condition for grant of stay is no hard and fast rule
In the matters of recovery of demands the Telangana High Court in [2023] 457 ITR 560 (Telangana) taking note of…
......Read MoreMandate of s 68
Section 68 provisions is most common to every income tax assessment where the AO could seek confirmation and explanation on…
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