Don't Worry , Be Happy !
The assessee while computing total income adjusted brought forward long-term capital loss relating to assessment year 2001-02 wih the short-term capital gain arising the year under consideration. The claim of the assessee for such set off was disallowed by the Assessing Offier. On appeal, the Commissioner (Appeals) also upheld the decision of A.O by relying on...
The assessee-company , engaged in the business of financing by way of granting loans and advances and earning interest therefrom and also dealing in stock and shares , filed a return declaring a total loss after adjusting the business income of interest from loans and advances. In view of the provisions of Explanation to section...
The assessee-company was daling in shares as well as earning income from business of trading in steel, yarn, fabrics as also from service charges.Its computation of gross total income showed loss under the head business wherease dividend was poistive income under the head ” income from other sources”.The dividend income was earned on shares held...
Interest paid to an assessee u/s 244A is also income . In the instant case the question for cosideration of Special Bench of Mumbai in Avada Trading Co. (P.) Ltd was whether the interest on refund under section 244A granted to the assessee in the proceedings under section 143(1)(a) was taxable in the year of...
The tax deduction u/s 80DDB of the Income Tax Act provides relief to tax payers who are individual … [Read More...]
Deduction u/s 80D of the Income Tax Act provides relief to tax payer by allowing a deduction in … [Read More...]
Monthly Subscription
Annual
Semi Annual Subscription
Quiz for CA/ICMA/CS Students