Judgements by Diganta Paul

If the tax liability is below minimum than the transaction unexplained and income can be exempted

Diganta Paul 16 December 2011 at 12:27

The tax effect in this case is found to be less than `.3 lac, the limit prescribed under Instruction No. 3/2011 dated 09.02.2011 and when ld. DR was apprised of this fact, he could not controvert the same and he was also unable to show that the case

Posted in Income Tax | 1296 Views

Cash assistance is to be taxed under the head Income from Business

Diganta Paul 16 December 2011 at 12:27

The ground raised by the assessee is that the Commissioner of Income Tax(Appeals) has erred in confirming that cash assistance is taxable in the hands of the assessee. It is the case of the assessee that the Commissioner of Income Tax(Appeals) himsel

Posted in Income Tax | 1214 Views

Sec 234D of Income Tax Act for charging interest on excess refund is applicable only from AY 2004-05

Diganta Paul 16 December 2011 at 12:27

In brief, the factual background giving rise to the impugned dispute can be summarized as follows. By a letter dated 18.12.2006, it was pointed out by the assessee that a refund of Rs 6,78,32,796/- was received by it on 1.4.2006 in consequence of the

Posted in Income Tax | 6190 Views