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Operation of Rule 8D only from 2008-09 onwards
taxguru.in/income-tax-case-laws/operation-rule-8d-200809-onw...
por carnifex2m el 20-04-2012 06:04
The matter came up in appeal before ITAT in the assessee’s own case and other cases in ITAs No. 453,454,456/M/2010 & 458 & 455/M/2010. During the continuance
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Website is intangible Asset and not softwaretaxguru.in/income-tax-case-laws/website-intangible-asset-sof...
por carnifex2m el 15-03-2012 02:18
Assessee’s claim that travel website should be treated as software (and hence website development cost is eligible for 60% depreciation) is not justified. By a
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S. 50B – Amount of liabilities being reflected in the negative net worth cannot be added to sale consideration fortaxguru.in/income-tax-case-laws/50b-amount-liabilities-refle...
por carnifex2m el 08-03-2012 08:57
Briefly stated the facts of the case are that the assessee-company is engaged in the business of real estate, investment
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S. 45(3) not permit A.O. to substitute full value of consideration other than the amount recorded in the books of accountaxguru.in/income-tax-case-laws/453-permit-ao-substitute-ful...
por carnifex2m el 07-03-2012 06:29
The profits or gains arising from the transfer of a capital asset by a person to a firm or other association of persons or body of individuals
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Merely because the department preferred appeal before the Honble High Court is no ground to take a different view.taxguru.in/income-tax-case-laws/department-preferred-appeal-...
por carnifex2m el 07-03-2012 06:23
CIT(A) deleted addition on account of keyman insurance policy relying on ITAT
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Interest payable U/s. 220(2) to be computed from the date of fresh assessment order if original been set asidetaxguru.in/income-tax-case-laws/interest-payable-2202-comput...
por carnifex2m el 20-02-2012 02:56
In the case of assessee the original assessment was confirmed by the CIT (A) but on further appeal, the Tribunal set aside the
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If AO wants to use any witness against the Assesee then principle of natural justice demands offering the witness for crtaxguru.in/income-tax-case-laws/ao-witness-assesee-principle...
por carnifex2m el 18-02-2012 01:46
The remand report submitted by AO does not deny the fact that Mr. Jagdish Beniwal was acting as a coordinator fo
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It is enough if bad debt written off as irrecoverable in the accounts of assessee, subject to provisions of S. 36(2)taxguru.in/income-tax-case-laws/bad-debt-written-irrecoverab...
por carnifex2m el 18-02-2012 01:42
After 1-4-1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable. It is enough if the bad debt is written
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