CA Prarthana Jalan

Fees Recovery Committee/Forums- Need of The Hour?

Income Tax - We all as dignified professional, with utmost sincerity and perseverance do discharge our professional duties. We have commanded our fields and we do perform our duty to the best of our efforts, but somehow I feel, that our fraternity fails to collect the professional fees which is our legitimate right....

“Sudoku”- The Puzzle of Life

Income Tax - Sudoku is a Japanese game which is a logic-based, number-placement puzzle. In this game one has to fill a 9×9 grid with digits so that each column, each row, and each of the nine 3×3 subgrids all contains the digits from 1 to 9. The puzzle setter provides a partially completed grid, which has to be completely filled....

Take flight of your dreams: Happy Women's day

Income Tax - Our CA Profession is also not deprived of this gender discrimination. We have girls in huge numbers joining the course and also completing the course with flying colours but the number of girls or Female CA that join the main stream profession are very less in numbers. ...

234E Fee deleted in the absent of the enabling provisions u/s 200A

Income Tax - The Hon'ble Amritsar bench has given a landmark judgement on the issue of 234E Fee levied prior to June,2015 in the case of Sibia Healthcare Private Limited v./s Dy. Commissioner of Income-tax (TDS), in I.T.A. No.90/Asr/2015 and has deleted the addition-...

35 Pre-Budget suggestions by CA Prarthana Jalan

Income Tax - 1. Tax Slabs should be revised as per the DTC Bill Provisions The Parliamentary Standing Committee on Finance (PSC) in its Report on the Direct Taxes Code Bill 2010 (DTC Bill) has appropriately recommended the following revised tax slabs for individual taxpayers. 0-3 Lakh – Nil 3-10 Lakh- 10% 10-20 Lakh – 20% Beyond 20 Lakh – [&...

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No Penalty- When deeming provisions are applied for assessing income

Pr. CIT Vs. M/S Hariom Steels (P) Ltd. (Allahabad High Court) - Hon'ble Allahabad High Court has in the case of Hariom Steels Pvt Ltd has held that penalty cannot be levied when deeming provisions are applied for assessing income....

No sec 40A(2)(b) rws 36 disallowance on Trade advance given to sister concern

CIT Vs. M/S Ghari Industries Pvt. Ltd. (Allahabad High Court) - No disallowance can be made under Section 40A(2) (b) read with Section 36 of the Income Tax Act of interest paid on borrowed funds for trade advance given out of commercial expediency to sister concerns....

Mere receipt of information cannot be equated to reason to believe that income has escaped assessment

Piramal Enterprises Ltd. Vs. DCIT (Bombay High Court) - Mere receipt of information from any source would not by itself tantamount to reason to believe that income chargeable to tax has escaped assessment. In the present case the Assessing Officer prima facie has not done the bare necessary/rudimentary enquiry into the material received before he conclud...

Penalty only on Disproved claim of expenditure & not unproved

Arun Duggal Vs. DCIT (ITAT Delhi) - Hon'ble Delhi ITAT held that Penalty can be imposed only on disproved claim of expenditure and not unproved claim of expenditure....

As per Indian culture, competent members who work in business of family, are paid as others are paid

Smt. Jyoti Mantri Vs. ITO(ITAT Jaipur) - It is natural in Indian culture that if the members of the family are competent to work in the business of the family, naturally they will be required to pay the minimum / the same compensation/benefit/incentive as other employees are paid. ...

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Recent Posts in "CA Prarthana Jalan" | Total 62 Posts

No Penalty- When deeming provisions are applied for assessing income

Pr. CIT Vs. M/S Hariom Steels (P) Ltd. (Allahabad High Court) -

Hon'ble Allahabad High Court has in the case of Hariom Steels Pvt Ltd has held that penalty cannot be levied when deeming provisions are applied for assessing income....

Posted Under: Income Tax | Judiciary | All High Courts, Allahabad High Court

No sec 40A(2)(b) rws 36 disallowance on Trade advance given to sister concern

CIT Vs. M/S Ghari Industries Pvt. Ltd. (Allahabad High Court) -

No disallowance can be made under Section 40A(2) (b) read with Section 36 of the Income Tax Act of interest paid on borrowed funds for trade advance given out of commercial expediency to sister concerns....

Posted Under: Income Tax | Judiciary | All High Courts, Allahabad High Court

Mere receipt of information cannot be equated to reason to believe that income has escaped assessment

Piramal Enterprises Ltd. Vs. DCIT (Bombay High Court) -

Mere receipt of information from any source would not by itself tantamount to reason to believe that income chargeable to tax has escaped assessment. In the present case the Assessing Officer prima facie has not done the bare necessary/rudimentary enquiry into the material received before he concludes that income chargeable to tax has esc...

Posted Under: Income Tax | Judiciary | All High Courts, Bombay High Court

Penalty only on Disproved claim of expenditure & not unproved

Arun Duggal Vs. DCIT (ITAT Delhi) -

Hon'ble Delhi ITAT held that Penalty can be imposed only on disproved claim of expenditure and not unproved claim of expenditure....

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Delhi

As per Indian culture, competent members who work in business of family, are paid as others are paid

Smt. Jyoti Mantri Vs. ITO(ITAT Jaipur) -

It is natural in Indian culture that if the members of the family are competent to work in the business of the family, naturally they will be required to pay the minimum / the same compensation/benefit/incentive as other employees are paid. ...

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Jaipur

Fees Recovery Committee/Forums- Need of The Hour?

We all as dignified professional, with utmost sincerity and perseverance do discharge our professional duties. We have commanded our fields and we do perform our duty to the best of our efforts, but somehow I feel, that our fraternity fails to collect the professional fees which is our legitimate right....

Posted Under: Income Tax | Articles

“Sudoku”- The Puzzle of Life

Sudoku is a Japanese game which is a logic-based, number-placement puzzle. In this game one has to fill a 9×9 grid with digits so that each column, each row, and each of the nine 3×3 subgrids all contains the digits from 1 to 9. The puzzle setter provides a partially completed grid, which has to be completely filled....

Posted Under: Income Tax | Articles

In absence of contumacious conduct penalty U/s. 271C not leviable

ITO (TDS), Vs Pushpanjali Hospital and Research Centre Pvt. Ltd. (ITAT Agra) -

Brief facts relating to the case are that a survey 133A of the Act was conducted in the premises of the assessee on 15/10/2009 during the course of which it was found that the assessee had deducted tax amounting to Rs.15,76,219/-...

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Agra

No further addition if addition not made on re-assessment reasons

Anugrah Varshney Vs ITO (ITAT Agra) -

In the absence of any addition having been made on incomes which the AO had reason to believe had escaped assessment, no addition of any other income could have been made and that the AO had exceeded his jurisdiction in passing the impugned order u/s 147....

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Agra

Take flight of your dreams: Happy Women's day

Our CA Profession is also not deprived of this gender discrimination. We have girls in huge numbers joining the course and also completing the course with flying colours but the number of girls or Female CA that join the main stream profession are very less in numbers. ...

Posted Under: Income Tax | Articles