Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Revenue has no option but to tax the income in the right hands ...

Income Tax

May 14, 2016

Revenue has no option but to tax the income in the right hands irrespective of the fact that wrong person has already been taxed for the particular income - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 - By "right person", we mean the person who is liable to be taxed, according to law, with respect to a particular income. The expression "wrong person"...

  2. Reopening of assessment u/s 147 - undisclosed capital gain - a right person is liable to pay tax on his income and no option is available to tax income in the hands of...

  3. Addition made u/s 56(2)(vi) - Fair Value Trust (FVT) – department having already exercised the option to tax the income directly in the hands of the trust, there is no...

  4. Release of detained goods alongwith the vehicle - condition of furnishing the Bank Guarantee with bond - It is quite clear that second option of furnishing the security...

  5. ESOP expenses - non deduction of tds on discount given- assessee has vested ESOP rights to certain employees - there will be time different between “vesting of option”...

  6. Appeal by revenue - low tax effect - even loss claimed by assessee for a particular year assumes considerable significance in variety of situations - Tribunal committed...

  7. Reversal of Cenvat Credit - applicability of Rule 6(3) of CCR - This tribunal time and again taken a view that whether option is availed in advance or later stage it is...

  8. As the amount paid by the assessee to specific persons are taxed in the hands of specific persons at the same rate , disallowance u/s 40A(2)(b) will be meaningless...

  9. Real estate agent service - consideration received under the heading “Administrative Charges” for allowing transfer of flat buyers right to another person - demand of...

  10. GST - Generation of E-way bill / Challan shall be mandatory (irrespective of value) in case of interstate movement of goods for Job work or by exempted persons in case...

 

Quick Updates:Latest Updates