Unlawful deduction of tax
The High Court in (2022] 19 ITR-OL 128 (Bom) held that requirement to deduct tax on interest is only qua…
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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
Separate units can be considered as separate business in computing s.80HHC relief
In a possible carve out from landmark IPCA ruling the High Court of Madras in [2022] 441 ITR 171…
......Read MoreCWIP write offs of abandoned pre-operational projects
The assessee in [2022] 441 ITR 195 (Bom)claimed deduction of CWIP write offs total of more than 8 crores pertaining…
......Read MoreRules of procedure in modifying return in business reorganisation scenarios
In the NCLT lead demerger case @ 420 ITR 339 (SC) the revised return was not admitted beyond the prescribed…
......Read MoreScope of section 68
No addition u/s 68 etc can be made on the strength of suspicion so that the High Court in reading…
......Read MoreDisclosure methods Disclosures of important transactions in directors report and notes are good indicators to prevent AO to resort to reopening of cases after 4 years.
The High Court in [2015] 4 ITR-OL 517 (Bom) in their pointer held that in this case the director’s report…
......Read MoreUpdated return algorithm
Updated return algorithm The Memorandum fact and object The memorandum to the Finance Bill 2022 in mooting…
......Read MoreLong story of short TDS and its implications
Long story of short tds and its implications The Missing The Hyderabad bench of Income Tax Appellate…
......Read MoreDirectors of private limited companies at risk
Budget-wise section 179 @ income-tax is amended to make directors of private companies accountable for payment of taxes in the…
......Read MoreParticipating in reassessment proceedings and implications
Having participated in the assessment proceedings the taxpayer cannot invoke extra ordinary justification of the Court to challenge any notice…
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