Professional Update for the Day: DIRECT TAX: Income Tax: ITAT Ahemdabad confirmed the addition of unexplained investments in purchase of agricultural land u/s 69 as the co-purchaser admittedly is not entitled to… Read More
Professional Update for the Day: DIRECTTAX: Income Tax: Interest paid by contractor to finance its business wasn't includible in cost of inventory; No understatement of WIP Deputy Commissioner of Income-tax,… Read More
Professional Update for the Day: DIRECT TAX: Income Tax: CBDT has notified the transfer pricing- computation of arm's length price. It notified percentage under third proviso to section 92C vide… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : No denial of Sec. 54F relief if taxpayer is unable to get possession of flat due to builder's fault Rajeev… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : Penalty levied for excess claim of unabsorbed depreciation u/s 115JB; ITAT denies theory of carry backward of losses SBI DFHI… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : No penalty on firm when it agreed to treat partner's contribution as its income to buy peace Choupal Plywood v.… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : Where assessee trust was carrying on microfinance business in a commercial manner so as to earn profit and there was… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : Cash deposits in bank can't be held as undisclosed income without verifying source of deposits Gurpal Singh v. Income-tax Officer,… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : Deduction u/s 80HH of the Act in respect of profit and gains from newly established industrial undertaking in backward areas… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : ITAT in the given case held that-as the international transactions of payment of royalty and fees for technical services are… Read More