High Court of Bombay at Goa held in the case of CIT vs. V. S. Dempo & Company Ltd. Held that view taken by the Assessing Officer or by the Commissioner has to be on the basis of the law prevailing on the day the view was taken.
In the case of The Quepem Urban Co-operative Credit Society Ltd vs. ACIT High Court of Bombay at Goa held that All three conditions of 5(1)(ccv) are to be satisfied cumulatively by a society for being termed as co-operative bank.
High Court of Bombay at Goa has held in the case of Vassantram Mehta & Co. (P) Ltd. vs. JCIT that Interest not to be disallowed if interest free advance granted to sister concern due to commercial expediency and is for business purpose of assessee.
High Court of Bombay at Goa has held in the case of In the case of M/s Mavany Brothers vs. CIT that that it is settled position that conferment of jurisdiction is a legislative function and cannot be conferred by consent of petitioner.
We all as a Professionals and students of Professional Course have to write daily by compulsion or by passion. Then why not to make it a passion!!! Each day, we are writing some or the other official letters / emails, writing in various audit report, or a writing a reporting to seniors. No matter what our reason for writing may be, developing a daily writing habit can be extremely beneficial to different areas of your life.
ITAT Delhi held in the case American Express (India) Private Limited vs. DCIT that even though the assessee in its TP study has included the turnover filter of less than Rs.1 crore, the assessee has given reasons for inclusion of these two companies in the list of comparables
The ITAT Hyderabad in the case of Sri Surakshitha Homes vs. ITO held that where the AO has assessed income on estimation basis then CIT cannot order to revise the assessment by picking and choosing some aspects of estimation to be re-verified.
In view of the petition filed by the assessee above, the court directed the respondent would vacate the attachment of the refund of Rs.105,95,04,390/- done u/s 281B of the act, as the petitioner was furnishing a Bank Guarantee of a Nationalised Bank for the equal amount
Both Countries Agreed to Explore Other Possibilities of Enhancing Exchange of Information; They Agreed to Resume Negotiations on Partial Revision of the DTAA Between the two Countries with a View to Bring the Provisions Relating to Exchange of Information to International Standards
As you are aware, the Direct Taxes Committee of ICAI has already made a representation for extension of due date for filing return of income and is very vigourously pursuing the same. The Direct Taxes Committee of ICAI with the help of the President, ICAI , the Vice-President, ICAI
