Income Tax

  • Income Tax

Expenditure on advertisement and brand promotion allowed in the year in which incurred

Expenditure on advertisement and brand promotion allowed in the year in which incurred wholly and exclusively for the purposes of…

5 years ago
  • Income Tax

Dismissing appeal ex-parte by CIT(A) on very first date of hearing unjustified – ITAT

Dismissing appeal ex-parte by CIT(A) on very first date of hearing without giving proper opportunity to the assessee to prepare…

5 years ago
  • Income Tax

Media report of reduction in numbers of e-filed ITR in FY 2018-19 incorrect-Finance Ministry

Media report of reduction in numbers of e-filed ITR during FY 2018-19 incorrect says Finance Ministry.  e-filing of Income Tax…

5 years ago
  • Income Tax

What is principal business of assessee is very tricky question-High Court

What is principal business of assessee is very tricky question-High Court remands case to ITAT to examine applicability of exception…

5 years ago
  • Income Tax

When savings bank interest declared in ITR, it cannot be said that bank account not disclosed

When bank interest was declared in ITR, it cannot be said that bank account was not disclosed to the Revenue…

5 years ago
  • Income Tax

Section 41(1) can not be invoked without any material evidence

Section 41(1) addition can not be invoked without any material evidence. High Court upheld quashing of addition made on account…

5 years ago
  • Income Tax

Limited scrutiny order was not erroneous/prejudicial as enquiries of AO were focused – ITAT

Limited scrutiny order passed by AO was not erroneous or prejudicial to the interest of Revenue as enquiries were focused…

5 years ago
  • Income Tax

Expenditure incurred on discontinued business unless shown to be for reviving, not allowable – ITAT

Expenditure incurred on discontinued business unless shown to be incurred for reviving it not allowable under section 37(1) - ITAT…

5 years ago
  • Income Tax

Facility service charges apart from property rent taxable as business income – ITAT

Facility service charges apart from house rent taxable as business income. Amount received was for specific services like housekeeping, security,…

5 years ago
  • Income Tax

Cancellation of flat booking held Long Term Capital Gain and deduction u/s 54 allowed

Cancellation of flat booking held Long Term Capital Gain and deduction u/s 54 allowed. ‘Property', is a term of widest…

5 years ago