Investible funds & investment period – Limitations, if any
The Kerala High Court in the case of ITO v. K.C. Gopalan (107TAXC591) held that there is no restriction under…
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Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
MAT- deductions permissible
The Bombay High Court in their ruling in the case of CIT v. Echjay Forgings Pvt. Ltd. (251ITR15) held that…
......Read MoreDISPUTED INCOMES
In the light of the Patna High Court ruling in the case of H.P. Biswas &Co. v. CIT (105TAX469) it…
......Read MoreMD Commission
In the case of Commissioner of Income-tax Vs. Seshasayee Bros. (P.) Ltd. (239ITR471) the assessee who entered into a managing…
......Read MoreStatutory liability and contractual liability.
In the case of Deputy Commissioner of Income-tax vs. Esquire Video Film Services (P.) Ltd (74ITD57) the assessee who followed…
......Read MoreReopening of assessment – Foundation for issue of notice
The assessing officer is given a specific power under the Act to assess income that has escaped assessment in the…
......Read MoreGifts made to Dealers/Distributors- Is Trading Receipt
Often manufacturers come out with incentive schemes from time to time whereunder gifts in kind such as gold, vehicles or…
......Read MoreRevised Return- Effect after Survey/Enquiry by the Revenue
Normally a revision of return is made for making claims for deductions or exemptions that were omitted to be made…
......Read MorePrinciple of double taxation
Rowlatt J. in Commissioners of Inland Revenue v. Frank Bernard Sanderson 8 T. C. 38, 44, 45. (1921) in a…
......Read MoreDefect in Appeal- Only of Academic Interest
An appeal before the Commissioner (Appeals) shall ordinarily be presented within thirty days of the order of assessment, but the…
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