The term appeal has nowhere been defined under the Income Tax Act. However as per Mozley and Whiteley’s Law Dictionary “Appeal is a complaint... Read More
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Law Relating to Gift Tax in India
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Law Relating to Gift Tax in India In the earlier times in India cash gifts of up to Rs 50,000 were tax free but if... Read More
All about Intraday trading An insight into Intraday Trading Strategies The common name for IntraDay Trading is “Day Trading”. Here, a trader acquires a stock... Read More
In exercise of the powers conferred by 80CCG (1) of the Income-tax Act, 1961 (43 of 1961), the Central Government of India has formulated the ... Read More
How to avoid income tax audit
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Most of the people paying Tax are afraid of an IRS audit / income tax audit. Recent statistics have revealed that 150,000 taxpayers have been... Read More
Reassessment is a tool of the Income Tax Department. It gives the Assessing Officer the power to reassess income, of an assessee which has not... Read More
The ITAT, Mumbai in the case of ACIT , Mumbai (Appellant) vs. M/s. Venus Jewel, EC-5021/22, Bharat Diamond Bourse, Bandra-Kurla Complex Bandra, Mumbai 400051 (having... Read More
The ITAT Delhi in the case of Mridu Hari Dalmia Parivar Trust vs. Assessing Officer, Circle 31 (1) , New Delhi. – 2016 (4) TMI... Read More
The final order of an Assessing Officer cannot take benefit from the orders of subsequent litigation
3 min read
The final order of an Assessing Officer cannot take benefit from the orders of subsequent litigation
Subsequent Litigation- Assessing Officer not to take benefit of it while framing orders A question arose recently whether a final order of an Assessing Officer... Read More
The section 271(1) (c) of the income tax act 1961, clearly states that no penalty would be levied on an income tax payer if the... Read More
