View Full Profile
Held that, let out portion not exempted, only part used for the business is exepmted.
Held by the court that any Immovable property can not be valued at reversionary value for the purpose of capitalising the net annual letting value
Held that in the absence of material on record justifying the delay in filing of returns, assessee is liable to pay penalty for the entire period.
Held by hon"ble court that under mercantile system of accounting assessee is entitled to deduction of loss/ expenditure in the year in which such entry is made in books of account. Hence, A.O. is not justified in disallowing deduction for amount paya
Held by hon"ble court that it is clear from reading section 273A(3) that commissioner can once grant relief with regard to any number of assessment years. But once relief is granted under this section, the commissioner cannot grant any relief for any
Held by hon"ble court that section 148 is silent regarding communication of reasons of notice. However, if reasons are supplied along with the notice it will save assessee from unnecessary harassment and Deptt. from unnecessary litigation. Also, it w
Held by the Hon"ble court that the use of land starts as the wheels of an aircraft coming into an airport touch the surface of the airfield and likewise the parking of the aircraft also is use of land. Hence the landing and parking fees charged is "r
Asst.C.I.T. Vs. Raka Food Products
Held by Ho"ble Court that it is not necessary that the expenditure is obligatory, only fact to be shown is that the sum has been paid voluntarily and out of commercial expediency for the making or earning of income. The amount spent is not applicatio
Held by the Hon'ble court that as per the Income Tax Act the husband and wife are treated as the separate taxable personalities, subject to the provisions of section 64(1)(i) of the Act,as such provisions are not applicable. There was no question of
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
CAclubindia
