This appeal challenges the decision of the Madras High Court in reference under section 256 (1) of the IT Act, 1961, in which the following question was referred by the Tribunal at the instance of Revenue which was adjudicated against it.
When the award of the reference court enhancing the compensation is stayed and an interim payment is ordered as condition of such stay or otherwise and is paid, pending final decision, neither of the two conditions are satisfied. The amount received
Whether the amount of unexplained cash credits are to be added in the total income of the firm even though the amount was already included in the total income of the partners.
Whether compulsory deduction made by sugar cooperative societies on account of non-refundable and refundable deposits and other funds are revenue receipts liable to be taxed under the Income Tax Act.
Whether A.O. was justified in invoking section 145 to value closing stock at cost or market price which ever is lower where assessee had adopted the policy of valuing its closing stock at market price only.
Section 2(7), read with section 4, of the Interest-tax Act, 1974.
There are a number of tests which are required to be considered while deciding whether the expenditure was revenue or capital in nature. A number of judgments have been cited before us in that regard. However, in the absence of the requisite details
Section 2(7), read with section 4, of the Interest-tax Act, 1974.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
