One has to read the object clause of the Charitable trust . One can spend the amount only if the object clause permits to be spent . (read more)

The CPC is not justified in allowing the proportionate credit . The assesee can rely on section 198 which treats the tax deducted is income received . The assessee can make an application under section 154 of the Act and also application under section 264 of the Act . In case application under section 264… (read more)

The stand of the assessee is correct . If the Assessing Officer does not give the copies of the statement and an opportunity of cross examination addition cannot be made. The assessee can rely on ratio of following case laws . Kishanchand Chellaram v.CIT ( 1980) 125 ITR 713 ( SC) though the proceedings under… (read more)

On literal reading it is possible to claim deduction of interest on loan taken for acquiring a residential house property whose stamp duty value does not exceed Rs. 45/- lakhs even though the cost of the residential property was Rs. 50/- lakhs On comparison with Section 80EE with this section, you will notice that section… (read more)