Rent & Major Repairs- Developing Stage
In the case of Jainsons SS vs. Assistant Commissioner of Income-tax (76ITD51) the assessee had taken certain premises on rent…
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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
Strict Compliance with provisions of section 195- Payment to Non Residents
Section 195 cast an obligation upon the assessees to deduct tax on all payments (barring interest on securities or salary…
......Read MoreCommission for renting of premises- Capital in Nature
Arijit Pasayat CJ of the Delhi High Court in Bharat Steel Tubes Ltd. (119TAX6) held that commission or brokerage paid…
......Read MoreRectification of Mistake- Scope
The J & K High Court in the case of Commissioner of Income-tax Vs. Agya Wanti (2001) 248ITR641 held that…
......Read MoreReopening Notice- Best Strategy
The Kerala High Court in dismissing a petition against issue of notice u/s 148 in the case of G Suresh…
......Read MoreBusiness Income Loan to Employees- Interest Waiver Implications
If an assessee acquires a right to receive the income, the income can be said to have accrued to him…
......Read MoreDeduction of tax at source Packing Material Purchase
The Pune Bench of the ITAT in the case of Wadilal Dairy International Ltd. ACIT (2001) 118TAX141 held that where…
......Read MoreRelief u/s 89
Section 89 is meant to provide relief from tax paid on arrears of salary received in lump sum on the…
......Read MoreGift of Immovable Property- Invalid if not registered
The Gujarat High Court in the case of Commissioner of Income-tax Vs. Mormasji Mancharji Vaid (250ITR542) observed that while interpreting…
......Read More“Reasonable Cause” – Meaning Explained
In order to get-away from penalties it is desirable for an assessee to prove a reasonable cause of any failure…
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