intra-group services under scrutiny
The subject under consideration before advance ruling authority in [2021] 431 ITR 626 (AAR) correspond to whether the continued real…
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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
Improper Intimation for adjustment of refund
The invisible CPC often indulges in the instantaneous recovery of demands against hard-earned refunds of the assessee without meeting the…
......Read MoreBusiness shutdown
Any person discontinuing any business or profession is expected to give to the AO notice of such discontinuance within fifteen…
......Read MorePenalty prosecution disobedience of section 139(1)/142(1)
disobedience of section 139(1) or 142(1) notices could lend a person into jail vide [2018] 12 ITR-OL 751 (Del). The…
......Read MoreSearch and survey No corroborating evidence no addition
Proceedings against a person based on the sworn statement of another person, which was not corroborated by any other evidence…
......Read MoreTests of commercial expediency – diversion of funds in real estate business
In the context of holding subsidiary companies having current account lending transactions by a subsidiary to holding company the Madras…
......Read MoreAO is bound to conduct independent inquiry during assessment
Vide (2021) 86 ITR (Trib) 174 (ITAT[Indore]) the bench held that the AO is duty-bound to make an independent inquiry…
......Read MoreLast minute summons /verifications fail
Where the AO issued summons under section 131 to enforce the attendance of the creditors at the fag end of…
......Read MoreSoftware payments- No TDS
The Supreme Court finally answered to the chequered history on the obligation to deduct tax on software payments from their…
......Read MoreFinding of fact
It is well-settled in law, that the High Court in exercise of powers under section 260A of the Act would…
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