TAX BY MANISH: Business Profit & Business Loss

Thursday, 26 July 2012

Business Profit & Business Loss

To click the article click here

http://taxbymanish.blogspot.in/2011/12/understanding-section-28-with-latest.html

No comments:

Recommendations of 55th GST council meeting | 21 December 2024

Summary of the relevant updates is provided below for ease of your reference: A) Proposals relating to GST law, Compliances an...

Imp Verdicts

PCIT vs. The Executor of Estate of Late Smt. Manjula A. Shah (Bombay High Court) S. 50C Capital Gains: The valuation of the stamp autho...
SC holds CENVAT credit is eligible on mobile towers and pre-fabricated buildings

This Tax Alert summarizes a recent ruling of the Supreme Court (SC) [1] on availability of CENVAT Credit on mobile towers and pre-fabrica...
The Big Debate - GAAP Vs. IFRS

IFRS and US GAAP - Similarities and Differences What is IFRS? And what is GAAP? The main difference between IFRS and US GAAP is that G...
HC : Co-op. credit society’s sale under Government’s Public Distribution System qualifies for Sec. 80P benefit

Madras HC reverses ITAT's order, grants deduction u/s. 80P(2)(a)(i) to assessee (a society engaged in the business of banking and provi...
SC : Dismisses SLP against re-assessment initiation based on special audit report

SC dismisses assessee-company’s SLP challenging Bombay HC order upholding re-assessment initiation (beyond 4 yrs period) based on a special...
SC : Dismisses SLP against penalty deletion for accepting/repaying loans through ‘journal entries’

SC dismisses Revenue’s SLP challenging Bombay HC order in case of assessee (belonging to Lodha group of companies engaged in real estate bu...
HC: Explains 'substantial interest' u/s 40A(2)(b) for SDT constitution; Relies upon ICAI Guidance Note

HC allows HDFC Bank’s writ petition, quashes AO’s order and subsequent reference to TPO alleging that certain related party transactions [p...
ITAT : Deletes over Rs. 1500 cr. capital gains addition regarding Telenor India’s telecom license-fee set-off

Delhi ITAT deletes Rs. 1558.57 cr. capital gains addition on Telenor India for AY 2014-15, holds that set off of non-refundable entry fee p...
Bombay HC upholds levy of GST on advances and allows ITC in the hands of recipient basis receipt voucher

This Tax Alert summarizes a recent ruling of the Bombay High Court (HC)1 on admissibility of input tax credit (ITC) w.r.t GST on advance p...
How to Claim Foreign Tax Credit in Australia as a Company

Claiming a foreign tax credit (FTC) in Australia allows companies to offset foreign taxes paid on income earned overseas against their Aust...