Judgements by PANKAJ KHURANA

SECTION 68

PANKAJ KHURANA 13 October 2010 at 13:06

Though in Section 68 proceedings, the initial burden of proof lies on the assessee yet once he proves the identity of the creditors/share applicants by either furnishing their PAN number or income tax assessment number and shows the genuineness of t

Posted in Income Tax | 3856 Views

case study sec 263

PANKAJ KHURANA 13 October 2010 at 13:06

Where the Assessing Officer has not carried out necessary enquiry which ought to have been carried out for allowing deduction to the assessee under section 40(b), the order passed by the Assessing Officer was erroneous and prejudicial to the interest

Posted in Income Tax | 1742 Views

Routers and switches r to be included in block of ‘Computer'

PANKAJ KHURANA 13 October 2010 at 13:06

Router and switches can be classified as a computer hardware when they are used along with a computer and when their functions are integrated with a ‘computer’

Posted in Income Tax | 1697 Views

Section 14A

PANKAJ KHURANA 13 October 2010 at 13:06

where it is found that for earning exempted income no expenditure has been incurred, disallowance under section 14A cannot stand - Held, yes

Posted in Income Tax | 2161 Views

Allow ability of building renovation expenses

PANKAJ KHURANA 13 October 2010 at 13:06

Decision by the Hyderabad Bench of the Tribunal in Dy CIT V. Chaya Lakshmi Creations P ltd. removes the dust over the question- “ Whether renovation expenditure on building taken on lease would be capital or revenue in nature?”- That any expenditure

Posted in Income Tax | 4377 Views

Taxability for reimbusement of exp incurred outside india

PANKAJ KHURANA 13 October 2010 at 13:06

Taxability of payment for reimbursement of expenses incurred outside India Fact of case : in this case, the assessee running merchant banking business had debited in its accounts reimbursements of expenses made to the parent company against the

Posted in Income Tax | 2709 Views