Arya Samaj Vs ITO (ITAT Delhi) Before ITAT, it was pleaded that the assessee has wrongly filled the column A(i) pertaining to “Other details” the ITR7 and since CPC is a automated process, the adjustment has also been wrongly made. It was argued that had there been a notice issued before making an adjustment, the […]
K Ponmudi Vs ACIT (Madras High Court) The petitioner has challenged the impugned assessment order on the following grounds: a) Despite several requests made by the petitioner to the respondents, requesting them to furnish the evidence based on which they have found that M/s. SRS Mining is alleged to have paid Rs.20,00,000/- as illegal payments […]
From the record it is apparent that this Court by order dated 08.05.2019 passed in W.P. No. 26509/2018 had directed the complaint/representation of the petitioner to be considered within two weeks. The same was made by the petitioner on 20.05.2019 and as per the petitioner, the same has not been decided till now and the impugned notice has been issued.
Defect in statutory notice in not striking out of irrelevant ground vitiates penalty proceedings for the reason that assessee has not given sufficient notice for preparing his defense, as to grounds on which penalty proceedings have been initiated.
It may be pertinent to note that the legislative intent of providing exemption under clause (10D) of section 10 of the Act has been to further the welfare objective by subsidising the risk premium for an individual’s life and providing benefit to small and genuine cases of life insurance coverage.
A CFO is a part of the top management of an organisation whose primary responsibility includes providing professional advice, managing the financial risks, financial reporting, taxation, compliances and record-keeping.
ITAT held that no tax would be levied on issue of shares to venture capital fund and further upheld observation of CIT(A) that, payment for valuation certification and retainership fees to a CA firm is a revenue expenditure.
India is one of the fastest growing economies in the world. It has experienced a tremendous growth rate since 2013 and is expected to continue its growth trajectory in 2023 as well. I
Price driven costing tools with value engineering can help reduce costs for MSMEs in India. Find out what value analysis can do for cost accountants.
Vipin Kumar Vs ITO (ITAT Delhi) ITAT Delhi held that benefit under section 54B of the Income Tax Act cannot be denied on mere fact that property was valued by the registered authority as a non-agricultural land for the purpose of stamp paper. Facts- The AIR information from sub registrar, Hapur Second in the case […]
