Notice u/s 158BC is a procedural act and any mistake in such notice can be rectified u/s 292B. Hence, Block assesseement proceedings cannot be held to be void merely due to the fact that block period was mentioned wrongly in the notice and that notic
neither reserve nor the surplus of the assessee is a part of the capital employed in the business of the company.
Validity of Amendment – Arbitrary amendment - Insertion of clause (f) to s.43B In original section 43B certain payments were held allowable only on actual payment s.43B was amended by inserting clause (f) to disallow liability towards leave encashm
The discount given to the 'stamp vendors' is neither 'brokarage nor 'commission'. Hence TDS provisions are not applicable
Order of penalty MUST clearly state the reasons of penalty !
Purpose of the Subsidy is important to determine whether it is revenue or capital
The ITO added 'interest' on interest free loan given by lessee to lessor as 'notional rent'. HC said no.
Compensation actually should be allowed as deduction !
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
T R SOOD & CO
New Delhi
CA Inter
View Details
CAclubindia
