UPDATES FROM TAX GURU

Income under each head has to be computed only after considering the income from various sources under the same head

Posted: 04 Apr 2009 08:44 PM PDT

SUMMARY OF CASE LAW The provision as stipulated under Explanation to section 73 talk of the income under specified heads; the income under each head has to be computed only after considering the...

This is just a content summary for Full details on above topic visit my website www.taxguru.in.

If Assessee shown that the donors are related or are close family friends, then the onus shifted on the AO to show that what is pretended to be a case of natural love and affection is not borne out from facts

Posted: 04 Apr 2009 08:33 PM PDT

CASE LAW DETAILS Decided by:. ITAT, LUCKNOW BENCH `A' LUCKNOW In The case of: Smt. Sonu Agarwal v. ITO Appeal No. : ITA No. 698/Luc/08 Decided on: January 23, 2009 SUMMARY OF CASE LAW Love...

This is just a content summary for Full details on above topic visit my website www.taxguru.in.

Notional advantage will not form part of actual rent received

Posted: 04 Apr 2009 08:18 PM PDT

CASE LAW DETAILS Decided by:. ITAT, MUMBAI BENCH `C' MUMBAI In The case of: ITO v. Pushya Properties (P.) Ltd. Appeal No. : ITA No. 2906/m/08 Decided on: March 6, 2009 SUMMARY OF CASE...

This is just a content summary for Full details on above topic visit my website www.taxguru.in.

Assessment can not be reopened merely on the ground of change of opinion of Assessing officer

Posted: 04 Apr 2009 08:14 PM PDT

CASE LAW DETAILS Decided by: HIGH COURT OF BOMBAY. In The case of: Cartini India Ltd. v. Addl. CIT Appeal No. : Writ Petition No. 2468 of 2008 Decided on: March 25, 2009 SUMMARY OF CASE LAW Once the...

This is just a content summary for Full details on above topic visit my website www.taxguru.in.

Major amendment in Fringe Benefit Tax applicable from A.Y. 2009-2010

Posted: 03 Apr 2009 08:56 PM PDT

Rationalisation of the provision of the Fringe Benefit Tax Sub-section (2) of section 115WB of the Income tax Act provides that where an employer incurs any expenditure, inter alia, for the purposes...

This is just a content summary for Full details on above topic visit my website www.taxguru.in.