Charitable expenditure
By the decision in Math Gadwaghat Trust( 2024]119 ITR (Trib) 134 (ITAT[Varanasi]) it is held that administrative nature of expenditure…
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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
Oral advice
In the case citation [2005] 275 ITR 491 (Mad) the assessee incurred consultancy expenditure for subscribing to “News Bulletin”/ “Information…
......Read MorePredeposit prescriptions by DHC
The Delhi High Court in (2024] 470 ITR 493 (Del) held that : A. there is no predeposit prescription requiring…
......Read MoreHuge stakes plus suspense w.r.t. tds defaults qua non -resident payments
It is sad that there is no specific period of limitation prescribed for ini tiating action in consequence of any…
......Read MoreCut and paste reopening
The AO cannot merely do a cut and paste job and go by previous case history for reopening the assessment…
......Read MoreHasty action by Commissioner
In the report titled (2024] 117 ITR (Trib) 683 (ITAT[Surat] the poor taxpayer had to face the agony of Commissioner’s…
......Read MoreNew principle invented w.r.t allowance of business deduction – apprehension of company
In a strange case that came before Hon’ble Gujrat High Court, one fertiliser company in tax report [2024] 470 ITR…
......Read MoreNOTICE SOLELY ON AUDIT OBJECTION WITHOUT INDEPENDENT APPLICATION OF MIND
Reopening a closed assessment is a serious business and therefore ought to meet all the tests of reopening. The Supreme…
......Read MoreNew window opened January 1 to file/update return for AY 2023-24 with additional 25% taxes
For those who missed out December 31 deadline to file/ revise file taxes for AY 2023-24 here is another opportunity…
......Read MoreTaxes are as certain as death
There is no provision in the law for stop filing of return ! The clock stops only with the death…
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