Move appeal in case of over-assessment
Where the assessee inadvertently or mistakenly offers an amount to tax it can go for an appeal following SC in…
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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
New product development expenses
The assessee in the books had capitalized the expenses on new product development and that proved to be fatal when…
......Read MoreWrongful claim of tax holiday
In 427ITR15 the assessee having deposited huge cash during the demonetization period claimed a tax holiday alleging that the cash…
......Read MoreTrinity test for stay of collection
The circular of the Central Board of Revenue (No. 14 (SL-35) of 1955, dated April 11, 1955) requires the officers…
......Read MoreTrust loosing exemption- wider and narrow view
Only because the trust deed indicates that the source of funds was only from school fees the Madras High Court…
......Read MoreCondition for notice of reopening
The Ahmedabad bench of ITAT in 82ITR (Trib) (S.N.) 32 has been candid in pointing out that the AO can…
......Read MoreEconomic Hardship and Waiver of Interest case
Income tax law by design has provisions with enabling powers to authorized officers for waiver of interest to provide respite…
......Read MorePAN is immortal
On the technical question whether a legal heir /representative (LR) of a deceased taxpayer is obliged to report immediately death…
......Read MoreOpportunity for philanthropy without any tags
Whereby virtue of any agreement, settlement, trust, covenant, agreement, gift deed or any other arrangement for transfer, income arises to…
......Read MoreTaxation of third world incomes
In Emmerich Jaegar v. CIT (2005)274ITR125 the assessee non-resident claimed benefit under an exception (exemption) provision of Article 14(2) under…
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