#CA Girish Gupta
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87 articlesIncome Tax
Income Tax
Some important aspects of allowability of business claim and concealment of penalty
Income Tax
Income Tax
Review u/s 254(2) only if there is a mistake apparent from the record
Income Tax
Income Tax
Issue of ‘treatment of forfeiture of guarantee amount given for purchase of machinery’ , ‘validity of entertaining Revised claim and disallowance u/s 14A
Income Tax
Income Tax
Levy of Penalty u/s 221 by A.O. is discretionary and can be waived off if Good and sufficient reasons exists
Income Tax
Income Tax
Penalty u/s 271(1)(c) in search assessment is tenable only if some incriminating material found during search
Income Tax
Income Tax
Sponsorship charges on study of daughter of Director allowable if made out of business exigency
Income Tax
Income Tax
No depreciation allowable on ‘identifiable fixed assets if not used for Business purpose at all’
Income Tax
Income Tax
Current year income can’t be disturbed on account of difference in opening balance
Income Tax
Income Tax
Additions not valid merely on the ground of fall in GP ratio, if books of account are accepted by AO
Income Tax
Income Tax
Peak credit theory for addition to income is applicable when deposit in bank account is out of cash withdrawals
Income Tax
Income Tax
Expense/Liability not allowable based on mere debit note, unless genuineness is established
Income Tax
Income Tax
Sec. 194C applies only if there exist a contractual arrangement between parties
Income Tax
Income Tax
Disallowance for bogus purchases should be restricted to reasonable profit % of such Purchases
Income Tax
Income Tax
