Current Issue

In the High Courts: Part A

• Appeal to Appellate Tribunal – Section 254 of ITA, 1961 and Rule 24 of ITAT Rules, 1963 – (i) Application for recall of order – Tribunal dismissing ap...
• Appeal to Appellate Tribunal – Powers of Tribunal – Sections 253 and 254 and Rule 24 – No power to dismiss appeal on ground of non-prosecution – Duty ...
• Appeal to Appellate Tribunal – Powers of Tribunal – Sections 253 and 254 and Rule 24 – No power to dismiss appeal on ground of non-prosecution – Duty ...
• Appeal to High Court – Sections 92CA and 260A – Powers to disturb findings of fact recorded by Tribunal – Only upon specific question being raised as ...

President's Message

Milestone 2.0 - Building a 'CA'reer. This was the theme for the virtual event held on 23rd April to felicitate new graduates. Over 220 'fresh CAs' logged in to hear a special interaction with three eminent panellists, Mrs. Bhavna Doshi, Robin Banerjee and Anand Bathiya, and Kushal Lodha acting as moderator.

Tribunal News : PART A

• Section 68 – Once the total turnover of the assessee is much more than the total cash deposit in the bank account, no addition is called for on accoun...
• Section 263 – A non est order cannot be erroneous and prejudicial to the interest of the Revenue – Assessment order passed without jurisdiction is bad...
• Section 115JB – Provision made for Corporate Social Responsibility, in accordance with the guidelines issued by the Department of Public Enterprises, ...
• Section 28 – Loss arising on capital reduction by a subsidiary company in whose shares investment was made for purpose of business of assessee, for se...

Tribunal News : PART C

• Section 195 read with section 40(a)(i) – A payment may be treated as reimbursement, and consequently not be subject to TDS u/s 195, if it satisfies tw...

Tribunal News : PART B

• Sections 45, 48 – Extinguishment of assessee’s right in flat in a proposed building is actually extinguishment of any right in relation to capital ass...
• Section 23 – Annual Letting Value of house property is to be determined on the basis of municipal rateable value...
• Sections 22, 56 – Since the nature of services provided by the assessee to the tenants / lessees was linked to the premises and was in the nature of t...