A Co. isn't entitled to deduction of interest under sec. 24(b) as it can't utilize properties for 'own residence'
January 30, 2015[2015] 53 taxmann.com 310 (Mumbai - Trib.)
IT: Even where assessee-company had paid interest on borrowed fund, deduction under section 24(b) could not be allowable as such provision is applicable only to self occupied properties
Trader has commenced its business when it got registration of shop, appointed employees and opened bank account
January 30, 2015[2015] 53 taxmann.com 289 (Delhi)/[2015] 228 Taxman 261 (Delhi)(MAG.)/[2014] 368 ITR 692 (Delhi)
IT: Where assessee-company had rented out office premises, opened bank account, appointed employees and got registered under Shop & Establishment Act, business of assessee could be said to have been set up and expenditure incurred thereafter were allowable as revenue expenditure
AO can make additions on issues not included in reasons recorded that come to his notice in course of reassessment
January 30, 2015[2014] 52 taxmann.com 51 (Punjab & Haryana)/[2014] 367 ITR 769 (Punjab & Haryana)
IT : In view of Explanation 3 to section 147, Assessing Officer is empowered to make addition even on ground on which reassessment notice might not have been issued
Confessional statement doesn't have evidentiary value in absence of incriminating material found during search
January 30, 2015[2015] 53 taxmann.com 306 (Andhra Pradesh)/[2014] 369 ITR 171 (Andhra Pradesh)
IT : Where in absence of any incriminating material etc., found from premises of assessee during course of search, statement of assessee recorded under section 132(4) would not have any evidentiary value;
__._,_.___
No comments:
Post a Comment