Madras Bar Association v. Union of India
The recent trend of setting up tribunals in various sectors to lighten High Courts’ burden and speed up decisions suffered a setback again when the Supreme Court struck down the…
Income Tax
Income Tax Issues in relation to Refund
Abhilash T.G, Asst. Professor in Law, CSI College for Legal Studies, Kottayam STUDY OF THE VERDICT OF THE APPEX COURT IN COMMISSIONER OF INCOME TAX Vs GUJARAT FLOURO CHEMICALS (2013)…
Determination of remuneration limit under Sec. 40(b) – ‘Commercial profit’ is relevant
S. 40(b)(v) of Income Tax Act permits a firm to claim deduction of remuneration paid to a working partner upto certain limits of the “book profit“. The term “book profit”…