Slump Sale or sale of individual assets
The Income tax Act, 1961 only recognize two types of sale transactions of business assets of business. One type of…
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Today's
Technical objections have no place in appeal proceedings ......Read More
Yesterday's Right to reason HP Court pointer to flaw in section 148A ......Read More
Yesterday's Right to reason HP Court pointer to flaw in section 148A ......Read More
Source of Source- Unquestionable
The Ahmedabad Bench of the Tribunal in the case of Rohini Builders v. Dy. Commissioner of I Tax (2001) 117TAX25…
......Read MoreLimited Scope of Section 43B- Statutory Payments
Section 43 B provides that all statutory taxes, duties, cess etc. can be claimed as deductible expenditure only in the…
......Read MoreIncome Accumulation – Write Specific Object Else Loose Exemption
Under section 11(2), if a charitable institutions desires to accumulate more than 25 per cent. of its income the accumulation…
......Read MoreMatching Concept Under IT Act
Section 40(b) of the Income tax Act, 1961 imposes certain ceilings and conditions on the payments made to the partners.…
......Read MoreCost of Raising Loans – Always Revenue in Nature in case of Running Business
The Pune Bench in the case of Chintamani Hatcheries (P.) Ltd. vs. Deputy Commissioner of Income-tax (75ITD116) held that if…
......Read MoreReopening – Courts cannot go into the sufficiency or correctness of the material relied by an AO
The P & H High Court in the case of Bal Ram Jakhar v. CIT (250ITR393) held that one of…
......Read MoreInterest free loan –Does the Benefit Accrue in All Cases
The Supreme Court in the case of V.M. Salgaocar and Bros. Pvt. Ltd. Vs. Commissioner of Income-tax (243ITR383) held that…
......Read MoreLate Filing- Power to Condone
Every Act lay down certain period of limitation as regard filing of appeals. applications etc. Also in most of the…
......Read MoreRevision Application u/s 264- Commissioner’s Role
The Calcutta High Court in the case of City Express Super Market v. CIT (118TAX248) held that in disposing of…
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