Gujarat High Court advisory to AO
On noticing shortcomings in the assessment order the Gujarat high Court in [2022] 446 ITR 571 (Guj) issued following advisory to…
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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
Computers and IPAD
Computers are entitled to higher depreciation rate. However in the Act no definition of “computer“ can be found. The bench…
......Read MoreUndue harassment to the assessee and chaos in administration of the tax laws
Harping on the Principles of judicial discipline the High Court in 2022] 446 ITR 734 (Telangana) held that the orders of the…
......Read MoreLiability cannot be created retrospectively-Non compete fee
Non compete fee is made taxable as trading receipt vide Finance Act 2003. The AO however imposed tax on such…
......Read MoreGeneric notice
Generic notice which are vague and suffer from ambiguity are liable to be challenged on the ground of non application…
......Read Moreshortfall or wrong TDS
In the context of disallowance scheme u/s 40(a) (ia) the Tribunal in (2022] 97 ITR (Trib) 714 (ITAT[Chen]) held that once…
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The Tribunal in [2022] 98 ITR (Trib) 235 (ITAT[Kolk]) held that the provisions of section 115JB are not applicable when…
......Read MoreNon production of party implications during assessment
Mere non-production of the party during assessment alone cannot be a basis to make disallowance, when all other supporting evidence…
......Read MoreMeeting of objections guidelines
In meeting objections to the reopening the AO is bound by law to pass a reasoned order. The Bombay High…
......Read MoreClosed Inquiry u/s 133(6) whether can prevent upon AO to issue notice u/s 148
Section 133(6) can be issued during the assessment or even otherwise with prior approval of senior authority. Once a query…
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