For years a battle of manoeuver has been waged between the Legislature and those who are minded to throw the burden of taxation off their own shoulders on to those of their fellow subjects. In that battle the Legislature has often been worsted by the skill, determination and resourcefulness of its opponents, of whom the […]
The object of the provisions of Section 40A is to curb the flow of black money and not to put an impediment to the trade and Business The Hon’ble Tribunal accepted the plea of the assessee The writ petition of the CIT was reject ted by the Hon’ble PB and Hr. High Court The plea […]
Recovery from a legal representative not from his/her assets in the recovery proceedings but from the assets of the deceased. Issue a writ , order or direction commanding the respondents to compensate the petitioner for mental agony and harassment caused solely on account of grossly illegal acts of the said respondents and its officers for […]
Meditation can bring you to nature. It can help you to all the perversions. It can make you intelligent. It can make you loving. It can make you spontaneous. It can make you responsible. It can make you a benediction to your self and to existence. Except meditation there is no other method which can help. This the key, the master key.
The officer is to make an assessment to the best of his judgment against a person who is in default as regards supplying information. He must not act dishonestly or vindictively or capriciously because he must exercise judgment in the matter. He must make what he honestly believes to be a fair estimate of the […]
In the annals of history we find various events where we see that those who considered values of time reached somewhere and earned name fame & wealth. In our life value of time is more than anything else in the world. If time is lost it cannot be regained. If any other thing is lost […]
Understanding the boundaries of Tribunal power: the importance of adhering to explicit statutory provisions.
It is settled law that the first appellate authority has all the powers of the AO and may, therefore, admit evidence which was not made available to the Assessing Officer, except where the assessee had ample opportunity but such evidence was willfully withheld. Where such fresh evidence is offered by either party the other party […]
Understanding the importance of interpreting tax statutes. Learn how the object and scheme of the Act can affect the interpretation of its provisions.
In the case of the assessee at present no finding was recorded in the assessment order that there was concealment of income.The assessee has not furnished inaccurate particulars of its income.True income of the assesseee was declared in the return filed by the assessee after issue of the notice u/ s 148 of the act . And the case of the assessee was made u/s 143(3) of the act on the same returned income.
