Addition rule u/s 68 for sundry creditors
In the context of AO’s possible act to make addition for unverifiable sundry creditors the tribunal in (2022] 29 ITR…
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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
Rule for verification of unexplained deposits – assessee cannot be kept in dark
In the matter of examination of cash deposits the tribunal in [2022] 98 ITR (Trib) 499 (ITAT[Amrit] held that the assessee cannot…
......Read MorePower to reopen
The taxpayers shall be reminded of the fact the power to reopen is a very powerful tool and the same…
......Read MorePublicise High-pitched assessment instructions
The Allahabad High Court in [2022] 447 ITR 585 (All) has been outright in stating that the Board instructions dated April 23, 2022…
......Read MoreErroneous offering of amounts as income
Merely because the assessee had erroneously offered a particular sum for taxation, the Revenue cannot take advantage of the ignorance…
......Read MoreFaceless Reassessment – Failure to follow assessment procedure may lead to total quash
A final order passed without prior show-cause notice as well as draft assessment order causes violation of the principles of…
......Read Morenon binding decision of the non-jurisdictional High Court
The bench of the Tribunal in (2022] 28 ITR (Trib)-OL 737 (ITAT[Agra] in a wake up call order caller for immediate redressal…
......Read MoreNon application of mind
An order passed without considering the reply to the show cause and draft assessment order filed by the taxpayer is…
......Read MoreProviso to 2(15) is intent driven and has very limited application
For a charitable society that makes any profits their exemption claim is not determined on the basis of commercial nature…
......Read MoreRepairs deduction u/s30 (a) ( (I) to lessee/tenant is absolute
The High Court in (2022] 447 ITR 29 (All) held that renovation of bare shell premises taken for business would…
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