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- NEW INCOME TAX CASE LAWS 20.05.2025
- Constituent member executing infrastructure project via JV is developer entitled to Section 80IA deduction.
- Reopening assessment based on unverified, third-party digital data without direct link to assessee is unsustainable.
- Unexplained investment addition cannot be sustained solely on a DVO valuation report without independent evidence of on-money payment.
- Reopening based on a vague loose paper chit lacking a live link to the assessee is invalid.
- Reopening notice based on unverified, third-party digital material without a direct link to the assessee is invalid.
- Tribunal rightly remanded share premium dispute for factual verification rather than using human probabilities.
- Property holding period runs from possession date, and maintenance security is excluded from acquisition cost.
- The choice to claim bad debt deductions under Section 36(1)(viia) rests exclusively with the assessee-bank.
- Exempt income expenses must be strictly carved out from book profits to compute minimum alternate tax.
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