Scope of Section 292BB : Notice deemed to be valid in certain circumstancesBackgroundPrior to introduction of Section 292BB by the Finance Act, 2008 w.e.f. 01.04.2008 in the Income Tax Act, non-service or no service in t...
Partition of Hindu Undivided Family (HUF) [Section 171]Section 171 of the Income Tax Act, 1961 defines the partition of HUF and deals with the provisions of assessment after its partition.What is the PartitionPartition i...
Assessments relating to Agricultural incomeArticle 366(1) of the Constitution provides that the expression ‘agricultural income’ in the Constitution means agricultural income as defined for the purpose of enactments ...
Liability of an Executor in respect of income of the estate of a deceased person [Section 168]Section 168 of the Income Tax Act, 1961 provides that the income of the estate of a deceased person shall be chargeable to tax...
Partition of Hindu Undivided Family (HUF) under Section 171 of the Income Tax Act, 1961Section 171 of the Income Tax Act, 1961 defines the partition of HUF and deals with the provisions of assessment after its partition....
Cardinal principles of interpretation of taxing statutesRevenue law is entirely a creature of statute. Article 265 of the Constitution mandates that no tax shall be levied or-collected except by the authority of law...
Taxpayer’s grievance from high pitched Income Tax AssessmentsWhat is high pitched assessment?An Assessment made far beyond Returned Income is considered as a high–pitched assessment. A high-pitched scrutiny assessmen...
Disclosure of information respecting assesses as per provisions of Section 138 of the Income Tax Act, 1961The Central Board of Direct Taxes (CBDT) has the power under section 138 of the Income-ta...
Rental income chargeable as Income from business and not as Income from House PropertyIncome from letting out any house property for any purpose is taxable under the head “Profit & Gains from Business or Profession...
Entire Law Relating to partition of HUF (Hindu Undivided Family) Explained [Section 171]Section 171 of the Income Tax Act, 1961 defines the partition of HUF and deals with the provisions of assessment after its partition...