Day: January 16, 2011
39 articlesIncome Tax
Income Tax
Unless a sense of hierarchical discipline is observed, while implementing fiscal legislation, exercise of powers would be rendered arbitrary and subject to whim and caprice of Assessing Officers
Income Tax
Income Tax
Award by arbitrator is within ambit of transmission by operation of law
Income Tax
Income Tax
An unregistered private trust cannot open a Demat account in its name and in the name of Gods or Goddesses
Income Tax
Income Tax
Raising a legal claim, even if it is ultimately found to be legally unacceptable, cannot amount to furnishing of inaccurate particulars of income.
Income Tax
Income Tax
When an assessee-company exploits its property to earn income in form of rent, rental income received by assessee is chargeable to tax under head "income from house property" and not under head "profits and gains of business"
Income Tax
Income Tax
Mere non acceptance of Assessees Legal Claim will not amount to furnishing of inaccurate particulars of income
Income Tax
Income Tax
A business centre cannot be said to be a `house’ for purposes of clause (3) of section 2(ea) of Wealth-tax Act
Income Tax
Income Tax
In order to attract provisions of section 41(1)(a), there must be a remission or cessation of the trading liability and consequently a benefit must enure to assessee
Income Tax
Income Tax
Conditions prescribed in clauses (a),(b) and (c) of sub-section 7 of section 94 are intended to be cumulative in nature
Income Tax
Income Tax
In the absence of failure of the assessee to disclose fully and truly all material facts necessary during his assessment under sub-section (3) of section 143 no action can be taken after the expiry of four years
Income Tax
Income Tax
When Banks claim deduction of bad debt written off in previous year by virtue of proviso to section 36(1)(vii), they are entitled to claim deduction of such bad debt only to extent it exceeds provision created and allowed as deduction under clause (viia)
Income Tax
Income Tax
Invoking provisions of section 80-IA(10) does not arise in case there are no transactions by assessee with any other person
Income Tax
Income Tax
INDO-UAE DTAA: Mere physical presence of non-resident’s vessel in territorial waters of India pursuant to hiring of vessel on Bareboat Charter terms by applicant does not, without anything more, constitute a permanent establishment
Income Tax
Income Tax
