Reopening of assessment – Foundation for issue of notice
The assessing officer is given a specific power under the Act to assess income that has escaped assessment in the…
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Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Gifts made to Dealers/Distributors- Is Trading Receipt
Often manufacturers come out with incentive schemes from time to time whereunder gifts in kind such as gold, vehicles or…
......Read MoreRevised Return- Effect after Survey/Enquiry by the Revenue
Normally a revision of return is made for making claims for deductions or exemptions that were omitted to be made…
......Read MorePrinciple of double taxation
Rowlatt J. in Commissioners of Inland Revenue v. Frank Bernard Sanderson 8 T. C. 38, 44, 45. (1921) in a…
......Read MoreDefect in Appeal- Only of Academic Interest
An appeal before the Commissioner (Appeals) shall ordinarily be presented within thirty days of the order of assessment, but the…
......Read MoreStay application- Learning for the Assessing Officer
In Bhubneshwar Stock Exchange v. Union of India (2004) 137TAX 318 the demand in dispute related to issues that had…
......Read MoreDiscrepancy in bank statement (stocks)- Deliberate or not deliberate
In CIT v. Punjab Rice & General Mills (2004) 137TAX314 the assessing officer made certain addition to the income on…
......Read MoreAmalgamation expenses are allowable deduction
The Gujarat High Court in CIT v. Akme Electronics & Control (P.) Ltd. (2004) 137TAX263 allowed deduction of legal expenses…
......Read MoreIf not bad debt then trading loss
In CIT v. Sree Ganesh Stores (2004) 137TAX261 the Madras Tribunal was persuaded to hold that the result of the…
......Read MoreCapital or revenue- Contribution for Building Construction
In CIT v. Rajasthan Spg. & Wvg. Mills Ltd. (2004) 137TAX249 the assessee running a textile mill set up an…
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