The meaning of "experience”, “use” and “impart” considered in detail
Rectification of an order stems from the fundamental principle that justice is above all. It is exercised to remove the error and to disturb the finality.
Where the assessee is carrying on an illegal activity which is treated as a business, any loss arising in such business as a result of confiscation by the authorities is an allowable loss. However, where the assessee is carrying on a lawful business,
Judgement of AAR can be taken to Supreme Court only after being challenged before a High Court.
Whether the incentive subsidy received by the assessee is a capital receipt not includible in the total income
CIT cannot disarray the AAR. An attempt to belittle the role of this Authority in the statutory scheme of adjudication cannot be countenanced.
The ex-gratia payment in excess of the limits prescribed under the payment of Bonus Act either under section 36(1)(ii) or section 37(1) of the Income-tax Act, is allowable as business expenditure although the payment does not cover contractual or cus
If a gift does not have any advertisement value, it cannot be deemed to fall within the category of advertisement as understood for the purposes of section 37(3) read with rule 6B
Merely because tax on income was paid for some assessment years would not estop the non-resident assessee from contending that its income is not liable to tax in India.
The head note to section 80HHC refers to deduction in respect of profits retained for export business, it is not profits retained from export business; in the matter of determining the quantum of deduction, under section 80HHC(3) the “principle of pr
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
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