Export — Deduction u/s.80HHC — Duty drawback and cash compensatory allowance received in the year other than the year of exports is eligible for deduction u/s.80HHC of the Act in the year of receipt, in a case where assessee is following the cash sys
ST - Cenvat Credit on Outward Freight - Revenue disallows -held, Assessee is eligible for Credit: High Court
Casual and non-recurring receipt : Exemption u/s.10(3) of Income-tax Act, 1961 : A.Y. 1994-95 : Incentive prize received on coupon given on the strength of NSC : Is not a lottery : Is casual and non-recurring receipt exempt u/s.10(3).
Return of income : Signature : S. 139 and S. 140 of Income-tax Act, 1961 : A.Y. 2003-04 : Return of income signed by assessee was filed after his death. Not a valid return.
Assessment : Limitation : S. 143, S. 144 and S. 154 of Income-tax Act, 1961 : A.Y. 1994-95 : Order giving effect to Appellate order is order inherent in S. 143 and S. 144 : Not an order u/s.154 : Limitation u/s.154(7) not applicable.
Business expenditure : Bonus : S. 36(1)(ii) and S. 37(1) of Income-tax Act, 1961 : A.Y. 1993-94 : Ex gratia payment over and above statutory limits prescribed under the Payment of Bonus Act, 1965, is allowable as business expenditure
Section 246, read with section 143, of the Income-tax Act, 1961 - Commissioner (Appeals) - Appealable orders - Assessment year 1995-96 - Whether so long as Explanation to section 143(1) was on statute up to 1-6-1999 till its omission by Finance Act,
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