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For invoking jurisdiction u/s 263 assessment order passed by AO should be prejudicial to the interest of revenue: ITAT
Income Tax
CA Deepak GuptaJun 2, 2022

For invoking jurisdiction u/s 263 assessment order passed by AO should be prejudicial to the interest of revenue: ITAT

AO cannot decide reasonableness, legitimacy and commercial expediency of expenditure incurred by assessee
Income Tax
CA Ayushi GoyalJun 2, 2022

AO cannot decide reasonableness, legitimacy and commercial expediency of expenditure incurred by assessee

Loss on trading in shares can be set off against business income
Income Tax
CA Ayushi GoyalJun 2, 2022

Loss on trading in shares can be set off against business income

Penalty under section 271(1)(c) cannot be levied for mere claim of wrong TDS: ITAT
Income Tax
CA Deepak GuptaJun 2, 2022

Penalty under section 271(1)(c) cannot be levied for mere claim of wrong TDS: ITAT

Sec 50C cannot be made applicable to lease rights in land: ITAT
Education
CA Deepak GuptaJun 2, 2022

Sec 50C cannot be made applicable to lease rights in land: ITAT

In absence of service of notice u/s 148/143(2) reassessment framed u/s 147 r.w.s 143(3) null and void: ITAT
Income Tax
CA Deepak GuptaJun 2, 2022

In absence of service of notice u/s 148/143(2) reassessment framed u/s 147 r.w.s 143(3) null and void: ITAT

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