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Commissioner of Income Tax-21 vs. Mr. Sarkar Nath Oberoi: Retrospective Applicability of Section 40(a)(ia) and Higher Depreciation on Commercial Vehicles
Facts of the CaseThe appellant (Revenue) challenged the order of the Income
Tax Appellate Tribunal regarding two primary disputes in the assessment of the
respondent (Assessee). The first dispute arose from the Assessi...
Commissioner of Income Tax vs. Discovery Communication India: Deductibility of Advertisement Expenses under Section 37(1)
Facts of the CaseThe respondent-assessee, Discovery Communication India,
is a subsidiary of foreign entities and is engaged in the distribution,
marketing, and production of satellite television programs for channels l...
Balasubramanian Ramachandran vs. Income Tax Officer: Reopening of Assessment Beyond Four Years Under Section 147 Without Failure to Disclose Material Facts
Facts of the CaseThe
petitioner, Balasubramanian Ramachandran, challenged a notice issued under Section
148 of the Income Tax Act, 1961, dated 28.03.2012. This notice sought to
reopen the assessment for the Assessment...
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...