Is a vague penalty notice invalid under the Income Tax Act?
A vague penalty notice reflects non-application of mind on AO’s part.
Scope of deduction under section 37(1)
AO is in no position to outrightly decide whether or not an expenditure has been incurred for business purpose until and unless he places himself in the shoes of the business owner/ professional.
Can Assessee Be Assessed As An Hindu Undivided Family Even After Partition Thereof?
The deciding factor is whether the assesssee has been assessed as an HUF in the past.
Clarification Pertaining To Section 36(1)(xvii)
CBDT has issued clarification in pursuance of instances of additional payments being made as income distribution to farmers by cooperative sugar mills for purchase of sugarcane.
Taxing provisions – Opting from different interpretations
If two reasonable constructions of a taxing provision are possible, that construction which favours the assessee must be adopted
Can Deduction u/s 24(b) Be Claimed Even If Property Is Not Owned?
The methodology of arriving at the annual value for computing income chargeable under the head of House property is based on ownership rather than possession.
Regularisation of Income Tax Returns filed using EVC
CBDT has issued an order u/s 119(2)(a) dated 24.09.2021 for regularising the income tax returns.
Regularisation of Income Tax Returns filed using EVC
CBDT has issued an order u/s 119(2)(a) dated 24.09.2021 for regularising the income tax returns.
TDS deductible but not deducted is to be reduced to arrive at Advance Tax?
A proviso to Section 209(1)(d) was inserted by the Finance Act, 2012, thereby explicitly providing for non reduction of TDS deductible but not deducted for the purpose of computing Advance Tax.
Whether payment of Sales Tax by adjustment is a deemed payment for Section 43B?
The adjustment made for meeting the sales tax liability on sales is a deemed payment by legal fiction.
