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Mere time gap between withdrawals and deposits can’t be the reason for alleging undisclosed income

CA Bimal Jain September 22 2021 @ 12:25 PM

Mere time gap between withdrawals and deposits can’t be the reason for alleging undisclosed income In Smt. Krishna Agarwal v. The ITO,...

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Allowed deduction of business loss including amount paid as managerial remuneration on account of it being business expenses

CA Bimal Jain September 22 2021 @ 12:22 AM

Allowed deduction of business loss including amount paid as managerial remuneration on account of it being business expenses In M/S. Univers...

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Interference of Court unnecessary if assessee has availed benefit under the Direct Tax Vivad Se Vishwas

Studycafe September 20 2021 @ 12:57 PM

Interference of Court unnecessary if assessee has availed benefit under the Direct Tax Vivad Se Vishwas High Court of Madras considered it u...

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Depreciation under sec 32(1)(ii) allowed on intangible assets granted in a contract of BOT

Studycafe September 20 2021 @ 12:02 PM

Depreciation under sec 32(1)(ii) allowed on intangible assets granted in a contract of BOT [Build, Operate & Transfer] ITAT, Mumbai: The...

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Order passed complying with principles of natural justice mandate of the statute u/s 144B(1)(xvi)(b) IT Act to be Complied

Team Studycafe September 18 2021 @ 1:32 PM

Order passed complying with principles of natural justice mandate of the statute u/s 144B(1)(xvi)(b) IT Act to be Complied Pooja Singla Buil...

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Deduction claim under section 35(2AB) curtailing Expenditure not justified

Team Studycafe September 18 2021 @ 1:15 PM

Deduction claim under section 35(2AB) curtailing Expenditure not justified Any curtailment in expenditure and consequent weighted deduction ...

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An interest free debt funding of an overseas company, compared to a loan simpliciter, cannot be subjected to ALP adjustment on the basis of CUP method

Team Studycafe September 17 2021 @ 12:24 AM

An interest free debt funding of an overseas company, compared to a loan simpliciter, cannot be subjected to ALP adjustment on the basis of ...

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Reassessment u/s 147, in the absence of tangible material is not warranted

Team Studycafe September 15 2021 @ 4:34 PM

Reassessment u/s 147, in the absence of tangible material is not warranted Madras HC: Reassessment u/s 147 of the income Tax Act, in the abs...

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ITAT quashes Rs 57 lakh fine on Preity Zinta

CA Bimal Jain September 13 2021 @ 1:33 PM

ITAT quashes Rs 57 lakh fine on Preity Zinta In MS. PREITY ZINTA v. DEPUTY COMMISSIONER OF INCOME TAX, MUMBAI [C.O. No. 98/Mum/2021 dated Se...

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SC to Government: Keep the taxation structure straight forward & user-friendly

CA Bimal Jain September 11 2021 @ 6:25 PM

SC to Government: Keep the taxation structure straight forward & user-friendly In South Indian Bank Ltd. v. Commissioner of Income Tax [...

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