INCOME TAX: Where assessee-company incurred expenditure towards legal fees paid for defending lawsuit filed against it for infringement of patent rights and also paid an amount towards settlement of suit,…
There is no precise definition of capital or revenue expenditure in the Income-tax Act. Thus, reliance is placed on judicial decisions to set some relevant principles for classification. In this…
The principle of non-judicial interference by the courts is a sacrosanct principle that is time and again being wielded by the courts through judicial precedents and conventions.The principle of non-judicial…
The Central Board of Direct Taxes (CBDT) has authorized the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (International Taxation), Circle-1(1)(1), Delhi to act as ‘prescribed authority’ for issuance of notice…
All the limitations, restrictions and provisions of this Act, other than those specified in this Chapter, applicable to a private company, shall, as far as may be, apply to a…
EXCISE/ST/VAT : Refund of Cenvat credit reversed under protest is available on telecom towers as it cannot be considered as immovable property; They are fastened on foundation, above the ground…
INCOME TAX : Where AO disposed off objections raised by assessee against reasons given for reopening assessment of assessee though not by way of a separate order but in body…
INCOME TAX : Where there was mere delay in furnishing TDS quarterly statements as employees of assessee bank were not well acquainted with procedure of e-filing of TDS return which…
INCOME TAX : Where assessee, engaged in business of civil contractors/builders, claimed to have made payment to agents for purchase of raw material such as cement, bricks, etc., in cash…
INCOME TAX : Where assessee in return had not shown any rental income of his property and submitted that property was very old and partly damaged and not in a…