If not bad debt then trading loss
In CIT v. Sree Ganesh Stores (2004) 137TAX261 the Madras Tribunal was persuaded to hold that the result of the…
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Provision for doubtful debts is held admissible deduction u/s36(1)(vii) ......Read More
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Capital or revenue- Contribution for Building Construction
In CIT v. Rajasthan Spg. & Wvg. Mills Ltd. (2004) 137TAX249 the assessee running a textile mill set up an…
......Read MoreOrder u/s 210(3) – Requiring payment of advance tax
In Punjab Tractors Ltd. v. Asstt. CIT (2004) 137TAX211 the assessing officer demanded advance tax on the basis regularly assessed…
......Read MoreTransfer of incorporeal rights – Eligible for section 80HHC Deduction
In Abdulgafar A Nadiadwala v. Asstt. CIT (2004) 137TAX112 the assessee transferred overseas film telecasting rights for a period of…
......Read MoreClubbing of Minor’s/Spouse Income
In First Income-tax Officer vs. Sadanand A. Shetty (1ITD122) the issue was what is the amount to be included under…
......Read MoreAccrual Concept under Income tax Act- Lesson to the Revenue
In Narasu Pictures Circuit (Pvt.) Ltd. Vs. Commissioner of Income-tax (80ITR82) the assessee showed commission received from a sister concern…
......Read MoreTax Free Incomes In Business- Fate of Related Expenditure
In CIT v. Indian Bank Ltd. [1965] 56 ITR 77 (SC), the assessee had income from interest on securities, both…
......Read MoreDeduction u/s 80HHC in MAT Scenario- Legislative Intent
The manner of computation of deduction u/s 80HHC for export profits earned is often a core of contention between an…
......Read MoreTime factor concept- A Rational Angle
Capital gains can enjoy income tax exemptions where proceeds are reinvested in specified assets within prescribed period. Often the assessee…
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