CBDT Extend Due Date of Filing Tax Audit Report Electronically Only
CBDT has extended due date of filing Tax Audit Report electronically only to 31st October, 2013 and has given an option to file Tax Audit Report physically before 30th September,…
Latest Happening in Income Tax in India
271(1)(c) Penalty cannot be levied in case of Bonafide Mistake without intention to evade tax
It has been held by the Honorable ITAT Pune in the case of Amruta Organics Pvt. Ltd. Vs DCIT that penalty u/s 271(1)(c) cannot be levied where there is a…
Sanofi Vs Vodafone: An Analysis
In the recent case law of Sanofi Pasteur Holding SA Vs Dept of Revenue, Andhra HC there are various landmark analysis of various provision of DTAA, Income Tax as well as,…
Tax Planning Through House Property
[img w=”599″ h=”377″]https://www.ahujaandahuja.in/wp-content/uploads/2012/09/tax-saving-house2.jpg[/img] A penny saved is a penny earned. Nothing can be truer than this when it comes to smart investing through better tax planning. Many investors look at…
[Sec 147] Reopening not justified only on the basis of Reversal of Law by higher court
The Honorable Supreme Court in its judgement dated 11th September, 2012 has held that change in legal position due to reversal of a judgement by a higher court is not…
Section 68, Gift: Onus on assessee to prove that donors had financial capacity to give gifts
The Honorable Supreme Court in its judgement dated 12th September, 2012 has held that the onus to prove that the donors of gift has financial capacity to give gifts is…
Fees paid to Professionals is taxable as salary if required to follow rules similar to employees
Currently many Advocates, Doctors and Other Professionals are hired by employers an full time basis but the payment made to them are treated as retainership fees and TDS is deducted…
Payment to builder for under construction property covered for exemption u/s 54
The Learned Mumbai Tribunal has held that payment to builder / developer for under construction property comes under the purview of construction under section 54 of Income Tax Act for…
Free Indian Case Law Search Engine www.indiankanoon.org
Free Indian Case Law Search Engine – www.indiankanoon.org
Reassessment u/s 147 cannot be initiated if Assessing Officer misinterpreted legal provisions in original assessment
legal misinterpretation by Assessing Officer in framing original assessment cannot be the basis of initiation of Assessment Proceeding u/s 147
Reassessment u/s 147: No addition can be made on other grounds when the reasons for which reassessment undertaken cease to survive
no addition can be made on other grounds, if the Assessing Officer doesn’t make any addition on the primary ground on the basis of which proceeding u/s 147 were initiated.
e-Filed ITR cannot be invalidated if ITR-V not received due to no fault of the assessee
where ITR-V for e-return was not received by the CPC, Banglore inspite of the same being posted by ordinary post on various dates, then the return cannot be treated as invalid