201807.10
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Res Judicata Vs Principle of Consistency

Res Judicata Vs Principle of Consistency Res Judicata Vs Principle of Consistency   In Principal Commissioner of Income Tax v. M/s Quest Investment Advisors Pvt. Ltd, under Income Tax Appeal No. 280 OF 2016 – High Court of Bombay dealt with “Res Judicata” and “Principle of Consistency” as held as under: ISSUES 1.Whether the Tribunal was justified…

201702.01
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Budget 2017- Changes in Income Tax

Budget 2017- Changes in Income Tax The budget 2017, presentd on 1st Feb 2017 has proposed to bring  folowing changes under Income Tax . 1.No cash transactions is allowed above Rs 3 lakh. 2.MSMEs with 50 crore turnover will get a 5% reduction in corporate income tax i.e 25% . 3.Income Tax rate for annual income between…