What does opportunity means in judicial terms
In a high profile case @ 436 ITR 340 the department invoked actions under section 153C and 148 both of…
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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
Reopening a case based on return is flawed under the law
To successfully manage reopening it is desirable for AO to meet the following four broad parameters : the conditions stipulated…
......Read MoreCorporate guarantee
The Tribunal in [2021] 25 ITR (Trib)-OL 1 (ITAT[Ahm]) after admitting that in case of an associated enterprise the guarantee…
......Read MoreHigher education in partnership setting is no personal to partner
By the decision of the Madras High Court carrying citation (2021] 18 ITR-OL 236 (Mad) even costs incurred for acquiring…
......Read MoreEssentials to tax JDA
Vide [2017] 398 ITR 531 (SC) the Apex Court held that the object of section 2(47)(vi) is to bring within…
......Read MoreVoluntary expenditure under long term interest of business
Section 37(1) is basket section which can hold any kind of expenditure other than personal and capital expenditure. Vide…
......Read MoreCredit cards equate temporary loans — late payment interest held admissible
The Delhi bench of ITAT in [2021] 24 ITR (Trib)-OL 631 (ITAT[Del]) held that interest on late payment of credit…
......Read Morepower to cancel 12A registration
Under the law the PCIT /CIT Is empowered to cancel registration if he is satisfied that the activities of the…
......Read MoreDTAA benefit cannot be declined for want of presentation of TRC… impossibility of performance case
The assessee who earned from employment abroad was declined exemption under article 15(1) of the India-Austria DTAA in (2020] 79…
......Read MoreAppeal/revision Missing claims in ITR-Remedy with PCIT
In [2021] 436 ITR 262 (Guj) the assessee , a banker at the time of filing ITR held the impression…
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