Day: February 27, 2011
43 articlesIncome Tax
Income Tax
India–Netherlands DTAA-Mere provision of a dredger on dry lease for carrying out dredging activity in India does not result in assessee having a PE
Income Tax
Income Tax
Powers under section 254(2) cannot be exercised for reviewing a considered and conscious decision on grounds which are inherently subjective and capable of debate and discussion on adoption of one view or the other
Income Tax
Income Tax
Once commissioner/brokerage is credited in P&L account of assessee broker and entire debit balance including principal and brokerage is found irrecoverable and is written off in books by assessee, same can be allowed as bad debt allowable u/s 36(1)(vii)
Income Tax
Income Tax
Without rejecting books of account regularly maintained, addition cannot be made only on basis of DVO’s report
Income Tax
Income Tax
Cessation of Liabilities- Liabilities reflected in balance sheet cannot be treated as cessation of liabilities
Income Tax
Income Tax
Penalty applicable in case of failure to disclose fully or truly all particulars of income
Income Tax
Income Tax
Royalty- Necessary ingredient for treating a payment as royalty is exclusiveness of right of a person over design or invention invented by him
Income Tax
Income Tax
It is impossible to presume that expression `licence’ provided in section 32(l)(ii) is an endless expression and even a tenancy right can be brought under it
Income Tax
Income Tax
Scope of Explanation 2 to Section 147 is such that Assessing Officer is free to re-examine correctness of a regular assessment
Income Tax
Income Tax
The expression "Tax due" in section 179(1) will not comprehend within its ambit a penalty
Income Tax
Income Tax
Provisional attachment of property -Section 281B provides for attachment of property of assessee only and of no one else
Income Tax
Income Tax
Financiers of motor vehicles are not entitled to any deprecation much less higher rate of depreciation on such vehicles
Income Tax
Income Tax
Once initial burden in terms of section 68 of IT Act, 1961 is discharged by assessee, onus shifts to Department to prove that amount credited in books of accounts represents undisclosed income of assessee
Income Tax
Income Tax
