(engaged in trading of shares etc): for the first time, in context of explanation to section 73 of the Act (dealing with classification of loss arising from sale/purchase of shares in hands of a company assessee as speculative loss).
BHC in context of reopening within four years (not covered by proviso to section 147), held that AO cannot form a prima facie opinion that deduction is not allowable and accordingly reopen the assessment on the ground that income chargeable to tax ha
Section 254, read with section 201, of the Income-tax Act, 1961 - Appellate Tribunal - Powers of - Assessment years 1994-95 to 2000-01 - Tribunal, by order dated 30-11-2005, held that once revenue had collected tax in respect of impugned payments mad
Laptops of Auditors seized during search of an assessee – Income Tax Department cannot force auditors to part with information of other parties stored in computers: Delhi HC
IN THE HIGH COURT OF DELHI AT NEW DELHI SUBJECT : COMPANIES ACT Crl.M.C. 23/2005 Date of decision : 05.05.2009
Depreciation — Higher depreciation could not be allowed on the motor trucks used in business of running them on hire, unless there is an evidence that the assessee was in the business of hiring out motor vehicles.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
