Judgements and Orders, Supreme Court and High courts of India
S. 142 - Inquiry before assessment
kavita jain 21 January 2008 at 12:20
S. 142 - Inquiry before assessment
Cash Credits
kavita jain 19 January 2008 at 10:21
A bare reading of section 68 suggests that there has to be credit of amounts in the books maintained by assessees; that such credit has to be of a sum during the previous year; and that the assessees offer no explanation about the nature and source o
Penalty proceedings are not to be initiated only to harass t
kavita jain 19 January 2008 at 10:21
Primary burden of proof, therefore, is on the revenue. The statute requires satisfaction on the part of the Assessing Officer. He is required to arrive at a satisfaction so as to show that there is primary evidence to establish that the assessee had
In an indivisible contract no VAT if Service Tax is paid : S
Late CA Sampat Jain 18 January 2008 at 09:20
(1) In the matter of interpretation of a taxing statute, as also other statutes where the applicability of Article 246 of the Constitution of India, read with Seventh Schedule thereof is in question, the Court may have to take recourse to various t
Tax Treaty
kavita jain 17 January 2008 at 22:45
The Act is concerned only with the profits earned in India and, therefore, a method is to be found out to ascertain the profits arising in India and the only way to do so is by treating the Indian PE as a separate profit centre vis-a-vis the foreign
The jurisdiction of the ITO is limited.
kavita jain 17 January 2008 at 22:45
Determination of liability of income-tax under the provisions of the Act for the purpose of computation of income of an assessee, inter alia, for carrying on business in insurance is governed by section 44 thereof and rule 5(a) of the First Schedule
The ‘total turnover’ under section 80HHC(3)
kavita jain 17 January 2008 at 12:13
“the income-tax has laid down certain rules to be applied in deciding how the tax should be assessed and even if the result is to tax as profits what cannot be construed as profits, still the requirements of the income-tax must be complied with. Wh
Proceedings in search cases cannot be used as an opportunity
CA.Saibaburao Nanduri 14 January 2008 at 12:18
Proceedings in search cases cannot be used as an opportunity to either reopen concluded assessment or to reassess returned income:ITAT
Capital Gain ::
CA.Saibaburao Nanduri 14 January 2008 at 01:53
Held by the Hon`ble Bench that as per section 55(2) clause (aa) in case assessee becomes entitled to an additional financial asset by virtue of original holding of shares the cost of acquisition of the original shares cannot be spread over for calcul
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