Whether it is fair to tax retirement benefits!!
The income tax law in the country provide for different treatment of tax on retirement benefits such as leave encashment,…
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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
Jurisdiction/notice defect
The High Court in [2022] 447 ITR 743 (Bom) reiterated that even if there was an order recording satisfaction for imposing penalty…
......Read MoreTax audit celings in mixed bag of receipts from business and profession
The Court in [2022] 20 ITR-OL 488 (Bom) held that the celing of 1 cr and 50 lacs for business and…
......Read MoreSoftware expenditure, whether revenue or capital
Bengaluru is considered as the Silicon Valley of India which consumes bulk of the software purchases. The Karnataka high court…
......Read MoreTaxpayer may avail appeal remedy against section 148A(d) order to save writ costs
Prior to reopening of a case the assessing officer is required to conduct an inquiry after affording opportunity to the…
......Read MoreTravel expenses of family members of employee is personal nature expense
The Tribunal in [2022] 29 ITR (Trib)-OL 127 (ITAT[Del]) held that unless the visit of the family members of the directors had any…
......Read MoreWrong initiation
When in the assessment order, no specific finding had been found recorded by the AO as to whether it was…
......Read MoreIndustrial royalty payments
By the Pune bench decision in 2022] 99 ITR (Trib) 585 (ITAT[Pune])consideration payable for use of the information and communications technology infrastructure set…
......Read MoreOur Incredible paper books could unsettle settlements
The group of assessee’s with as many as 1500 search cases assessments managed settlement in their cases after a high…
......Read MoreMiserable on income tax lawmakers
In a most dreadful situation the Supreme Court in [2022] 447 ITR 766 (SC) were cornered with a question whether the Tribunal…
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