The date of the retirement of the partners is necessary to understand the implications of section 9B and amended section 45(4) of the Act. Otherwise, if the transactions are before April 01, 2020, the erstwhile law will prevail. (read more)

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)