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Commissioner of Income Tax-VI vs. Taikisha Engineering India Ltd.: Application of Section 14A and Rule 8D for Disallowance of Expenditure on Exempt Income
Facts of the Case The Revenue filed two
appeals regarding assessment years 2008-09 and 2009-10. In AY 2008-09, Taikisha
Engineering India Ltd. (the Respondent) declared a total taxable income of
₹31,14,68,297 a...
Commissioner of Income Tax IV vs. M/S Interarch Building Product: Treatment of Reimbursed Service Charges under Section 80-I
Facts of the CaseThe respondent-assessee, M/S Interarch Building Product,
shared a common office space with another entity, M/s. Interarch. Due to this
arrangement, the two entities shared service charges and administr...
Commissioner of Income Tax vs. M/S Ankit Garments Manufacturing Co.: Validity of Section 263 Revision on Factual Confirmations
Facts of the CaseThe respondent-assessee, a partnership firm manufacturing
readymade garments, was subjected to search and seizure proceedings on October
16, 2007. For the assessment year 2008-09, the Assessing Officer...
ICAI International Research Awards 2026
ICAI International Research Awards 2026Recognizing excellence in research across Accounting, Finance, Taxation, Auditing & Economics.Research papers published between 1 Apr 2024 & 30 Jun 2026 are invited.Last dat...
VIRTUAL WEBINAR on Concept of income under New income tax act, 2025 (Sec 2(49), 4 & 5) and impact of Tax Year read with Sec 536(3).
MY TAX EXPERT is pleased to announce, as part of its ongoing professional development initiative, a VIRTUAL WEBINAR onTopic: Concept of income under New income tax act, 2025 (Sec 2(49), 4 & 5) and impa...
Unreasonable payment to Related Person [Section 40A(2) of the Income-tax Act, 1961]
Unreasonable payment to Related Person [Section 40A(2) of the Income-tax Act, 1961]The section 40A(2) of the Income Tax Act, 1961 provides that, where the assessee incurs any expenditure, in respect of which payment is m...
Rectification of Mistake – Queries and their Answers [Section 154]
Rectification of Mistake – Queries and their Answers [Section 154]Section 154 is in itself a complete code governing the filing of rectification petitions with the intent to cure the mistake/error/omission apparent fro...
Assessment of E - Commerce Industries
Assessment of E - Commerce Industries E-commerce, short for Electronic Commerce, encompasses the buying and selling of goods and services over the internet. It eliminates geographical barriers, allowing transactions...
Statement of Financial Transaction (High Value Transaction) [Section 285BA]
Statement of Financial Transaction (High Value Transaction) [Section 285BA]Section 285BA of the Income Tax Act, 1961 read with Rule 114E requires certain specified reporting persons to furnish statement of financial tran...
Overview of Right to Information Act, 2005
Overview of Right to Information Act, 2005The Right to Information Bill was introduced in the Lok Sabha in December 2004. It was passed by both houses of Parliament with major amendments in May 2005. The assent of the Pr...