Day: June 12, 2015
36 articlesIncome Tax
Income Tax
Sale proceeds of Flags on Women’s Day Pursuant to govt. order are capital receipts
Income Tax
Income Tax
Date of credit in books is actual date of recording credit entry for determining point of TDS deduction liability
Income Tax
Income Tax
Section 68- Trade credits cannot be taxed as unexplained cash credit
Income Tax
Income Tax
Penalty u/s 271(1)(C) can’t be levied in succeeding year if on similar/ identical disallowance, no penalty was levied in preceding year
Income Tax
Income Tax
Discount to distributors by telecom company is not in the nature of commission/brokerage
Income Tax
Income Tax
Non-compliance in respect of hived off part of project does not dis-entitle deduction under Section 80IB(10)
Income Tax
Income Tax
Adjustment for variation in closing stock necessary for correct application of TNMM
Income Tax
Income Tax
Broken period interest on purchase of securities is allowable as revenue expenditure
Income Tax
Income Tax
Other View taken by Assessing Officer with application of mind even if prejudicial to interests of Revenue does not allow CIT to initiate proceedings u/s 263
Income Tax
Income Tax
Books cannot be rejected when PAN mentioned and TDS was deducted
Income Tax
Income Tax
Mere TDS certificate not conclusive evidennce for determining nature of payments
Income Tax
Income Tax
Accrual of Interest on hypothetical income outstanding in books cannot be taxed
Income Tax
Income Tax
Interest u/s 234C is to be levied on Assessed or Returned income whichever is less
Income Tax
Income Tax
