Right to reason HP Court pointer to flaw in section 148A
Ss (3) of section 148Astates that the Assessing Officer shall, on the basis of material available on record and taking…
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Today's
54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's Club expenditure ......Read More
Yesterday's Club expenditure ......Read More
Wrong reopening
Here is a case of a person who is slapped with a notice of reopening on the basis of search…
......Read MoreIn no way the AO has power to question arm’s length pricing in unrelated party transactions
Quoting from 288 ITR 1 (SC)- S. A. Builders Ltd.‘s case the Delhi bench of ITAT in UK INDIA BUSINESS…
......Read MoreHouse purchase exemption
Reading from Supreme Court decision in 365ITR389 it appears material date of purchase or date of transfer of immovable property…
......Read MoreProvision for doubtful debts is held admissible deduction u/s36(1)(vii)
By a landmark decision of the ITAT rendered in (2024] 120 ITR (Trib) 295 (ITAT[Bang]) it is held that where…
......Read MoreTotal Irony
There are two adjoining sections 263 and 264. Whereas section 263 deal with orders prejudicial to the interest of revenue…
......Read MoreCSR donations/expenses whether could otherwise qualify for deduction u/s80G
In FDC case ruling by the Mumbai bench of ITAT in (2024] 119 ITR (Trib) 799 (ITAT[Mum]) which while setting…
......Read MoreNot filing return may trigger notice
Having a PAN and not filing a return may be a strict NO NO. It can trigger assessment notice. In…
......Read MoreIssue of notice at email address not in use and one belonging to old CA
By the decision from the Allahabad High Court in (2024] 471 ITR 68 (All) a taxpayer may seek quashing of…
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