Articles
8 Income Tax Judgements and Cases on Previous Demonetisation
PM Narendra Modi may have shocked the nation with his 8 PM, 8 Nov 2016 announcement , but the Prime Minister’s move was not a step which was not known or never done before. India has...
Case Laws
Section 153(2) – Time limit for AO to complete assessment or reassessment – based on Case laws for calculating the time limit where writ...
1.Section 153 of the Income Tax Act provides the time limit to Assessing Officer within which the Assessing Officer has to complete the assessment or reassessment of the assessee. The matter will be time...
Case Laws
Why Donation for Fight against Coronavirus to third party NGOs is not a good idea?
Earlier, the trusts were formed by affluent people of same community who infused corpus money out of their own savings and carried out charitable activities in the nature of relief for the poor, education...
Articles
Understanding the Complex Section 14A of the Income Tax Act, 1961.
Introduction
Section 14A was inserted by Finance Act, 2001 having a retrospective effect from 01.04.1962. To understand the reason behind the insertion of section 14A, the relevant part of memorandum of Finance Act, 2001 is...
Articles
RULE 8D of Income Tax Act: Method for determining amount of expenditure in relation to income not includible in total income
What is Rule 8D of Income Tax Act, 1961?
Rule 8D of Income Tax Act reads as follow:
Where the Assessing Officer, having regard to the accounts of the assessee of a previous year,...
Case Laws
No Opportunity of Cross-Examination under Income Tax Litigations
No Opportunity of Cross-Examination under Income Tax Litigations
In law, cross-examination is the interrogation of a witness called by one’s opponent. Section 138 of the Indian Evidence Act 1872 provides that a witness will be...
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