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Topics - Mansha

Discussion / Taxability of Sodexo meal coupons
June 06, 2012, 10:13:46 PM
Respected members

Please enlighten  me regarding the taxability of Sodexo Meal Coupons in the hands of employees.

Respected Experts
I've little doubt on 44AD provision.
Is the provision of 44AD assessee based or business based?
i.e. if one person(individual) carries on two or more businesses and all these businesses have gross turnover less than Rs. 6000000 then for application of 44AD will the turnover of each such business be compared with limit of Rs. 6000000 or will the sum of all these turnover be compared with Rs. 6000000?
Hope for prompt reply

Thank you
Respected Experts
If an assessee ,sold a residential property for Rs 50 lacs and he wants to purchase three property on the same amount .
Is he eligible for exemption under section 54 of IT Act ?
Hope for prompt reply
Thank you
Discussion / Additional depreciation
February 21, 2012, 09:44:02 PM
Respected members
An assessee is engaged in the business of refining lubricating oil. Whether additional depreciation is allowed in case of purchase of machinery that is used for refining lubrication oil?
Discussion / Past untaxed profits
February 16, 2012, 09:36:48 PM
If resident  individual  had income of Rs 300000 in the year 2006-07 but he has not disclosed the income .It was detected  in the previous year 2009-10.In this case ,it will be considered to be income of the year 2006-07 ,so slab rate of 2006-07 will be applied .
Am i right ?
Discussion / penalty u/s 271(1)(c)
December 13, 2011, 03:55:57 PM
Respected experts
On the basis of the information available with I T Dept. case of an assessee has been reopened and At the time of assessment proceedings some undisclosed income of an assessee has been found by AO  however against that Income, there were TDS. After an addition of undisclosed income, though returned income has been increase but after giving the credit of TDS untimately tax payable is NIL.
Now My query is :
Can penalty u/s. 271(1)(C)  be imposed? since tax sought to be evaded is NIL.

Discussion / Treatment of Live stock
December 12, 2011, 11:35:55 AM
Respected experts

What is the treatment of live stock ?

Discussion / deduction u/s 80IB
December 08, 2011, 10:54:45 AM
The company is situated in industrially backward area and eligible for 80IB deduction. During the year the company has received Insurance claim for goods destroyed in fire. The company has also sold scrap generated through manufacturing process.

Whether these insurance claim received for goods destroyed in fire and Scrap sale generated through manufacturing process is eligilbe for deduction while calculationg Deduction u/s. 80IB,

Please share  case laws with this regards in assessee's favour