Direct Taxes (including International Taxation)

4th April, 2015

Posted by ALOK PATNIA

Depreciation shall not be...

If retiring partner were not paid in excess of balance in capital account then, no goodwill arises. Thus, depreciation...

4th April, 2015

Posted by ALOK PATNIA

Purchases made from person...

Case:Assistant Commissioner of Income-tax vs. Shanti Swarup Jain Where assessee purchases from a firm running dummy business then such...

2nd April, 2015

Posted by ALOK PATNIA

Foreign technical expense related...

Assessee incurring expenditure in foreign exchange for providing of technical services related to his business of export of computer...

31st March, 2015

Posted by ALOK PATNIA

Income shall be computed...

Case: Income-tax Officer vs. Om Silk Mills Facts: The assessee filed its return on 31.10.2003 declaring total income of...

31st March, 2015

Posted by ALOK PATNIA

Capital Gain shall be...

The Tribunal held – If the capital gain wrongly showed in hands of HUF while the individual owned the...

25th March, 2015

Posted by ALOK PATNIA

Where guarantor repays loan...

The High Court ruled that if installments of loans taken by subsidiary company were repaid by guarantor for protecting...

25th March, 2015

Posted by ALOK PATNIA

Claim Sec. 54 on...

Where land being long term capital asset and building being short term capital are sold then, assessee was entitled...

24th March, 2015

Posted by ALOK PATNIA

If AO not satisfied...

Where errors in vouchers and in other account books are discovered and no credible reason was extended by the...

23rd March, 2015

Posted by ALOK PATNIA

If shares held for...

Long-term capital gain shall be calculated on profit on sale of shares held as long-term investment by the assessee....

23rd March, 2015

Posted by ALOK PATNIA

Expense if treated as...

The High Court in a case ruled that if expenses incurred for replacement in membrane cells – I plant...

18th March, 2015

Posted by ALOK PATNIA

Partners introducing capital in...

If money exchanged between partners and partnership firm,provisions of section 269SS would not be violated. Case: Commissioner of Income-tax...

17th March, 2015

Posted by ALOK PATNIA

Clarification regarding certain deductions...

In Commissioner of Income Tax vs. Nirma Ltd., following issues were raised:   While claiming deduction under sections 80HH, 80-I...
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