section 43B

Calcutta HC: Tax Related To Next Year Paid in Advance Is Allowable in Year...

Calcutta High Court in recent order in case of Paharpur Cooling Towers Ltd. vs CIT passed on 15 July 2011 delivered a very important...

Carbon Credit Income Not Taxable !

What is carbon credit and various important aspects of carbon credit was explained in previous post titled carbon credit 8 frequently asked question.The taxation...
tds on service tax

No TDS on Service Tax Part of Professional or Technical Fee !

There was a raging controversy about TDS on the service tax component of any bill pertaining to rent or professional or technical job wherein...
delayed compensation

Interest on Delayed Compensation for Agriculture Land Taxable Year Wise !

The land acquisition by state government involves both agricultural land and non agricultural land.Income Tax Act , under section 194LA has provision for deduction...

Commissioner Drops Proceeding Without Any Reason, Allhabad HC Directs Action!

Allahabad High Court in a very recent judgement , while rejecting the writ petition of an assessee with cost , passed stricture against the...

Reassessment on Basis of DVO Reports : 2 Extremely Favourable Judgments from Supreme Court

It almost routine for assessing officers to refer the matter of valuation of property to District Valuation Officer ( DVO after this) when they...

Rule 8D Not Applicable Stock-in-Trade : ITAT Kolkata

Rule 8D is invoked by assessing officer for computing disallowance u/s Section 14A of the Income Tax Act even in case shares are held...
26AS Statement

TDS Not Reflected in 26AS : Its AO Resposnisbility , says Delhi HC

Non reflection of TDS in the  26AS statement  which is the basis on which income tax department gives credit of the tax deducted at...

Pledged Shares Can Be Transferred by Owner !

The headline that pledged shares can be transferred must surprise many , because if the pledged shares can be transferred by pledger (owner) ,...
lease_finance

Lease Finance of Vehicle : Lessor is Owner !

In case of lease finance of vehicle, the question of claiming depreciation has been a controversial issue. Earlier a decision of Delhi High court that depreciation...