Income Tax Judgements
Deduction u/s 35 D
CA.Saibaburao Nanduri 02 September 2007 at 10:12
neither reserve nor the surplus of the assessee is a part of the capital employed in the business of the company.
Validity of Amendment – Arbitrary amendment - Insertion of clause (f) to s.43B
Aisha 29 August 2007 at 20:51
Validity of Amendment – Arbitrary amendment - Insertion of clause (f) to s.43B In original section 43B certain payments were held allowable only on actual payment s.43B was amended by inserting clause (f) to disallow liability towards leave encashm
TDS for STAMP VENDORS
CA.Saibaburao Nanduri 29 August 2007 at 18:58
The discount given to the 'stamp vendors' is neither 'brokarage nor 'commission'. Hence TDS provisions are not applicable
Penalty u/s 271C
CA.Saibaburao Nanduri 28 August 2007 at 19:04
Order of penalty MUST clearly state the reasons of penalty !
Deduction of Business Expenditure ::
CA.Saibaburao Nanduri 28 August 2007 at 19:04
NATURE OF SUBSIDY ::
CA.Saibaburao Nanduri 28 August 2007 at 19:04
Purpose of the Subsidy is important to determine whether it is revenue or capital
Income from House Property :
CA.Saibaburao Nanduri 28 August 2007 at 09:44
The ITO added 'interest' on interest free loan given by lessee to lessor as 'notional rent'. HC said no.
Deduction u/s 37
CA.Saibaburao Nanduri 27 August 2007 at 09:11
Compensation actually should be allowed as deduction !
POWER OF HC :: SECTION 256 ::
CA.Saibaburao Nanduri 25 August 2007 at 09:25
Whether High Court is empowered to accept qustion of fact ??
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