Income Tax

Contention that clause (f) of sec 43-B inserted vide Finance Act ,2001 w.e.f..1-4-2002 only to nullify ruling of Supreme Court in Bharat Earth Movers, (2000) 6 SCC 645

Held that Notably, this regulatory measure is in sync with other deductions specified in Section 43-B, which are also present and accrued liabilities. A priori, merely because a certain liability has been declared to be a present liability by the Court as per the prevailing enactment, it does not follow that Legislature is denuded of […]

Contention that clause (f) of sec 43-B inserted vide Finance Act ,2001 w.e.f..1-4-2002 only to nullify ruling of Supreme Court in Bharat Earth Movers, (2000) 6 SCC 645 Read More »

Applicability of the section- Modalities to be complied with by assessing officer

153-C – Applicability of the section- Modalities to be complied with by assessing officer under two different scenerios clarified and held that Since Assessing officer (AO) of the assessee and the searched person being the same the satisfaction recorded by the AO concerned complied with requirements under S. 153-C. ITAT to decide and dispose of

Applicability of the section- Modalities to be complied with by assessing officer Read More »

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