There are situations in the real life when an assessee can face problems in deciding whether to pay tax on particular income or not and also whether to claim expenses / deduction or not as there are innumerable situations when it prima facie seems an income as non-taxable but the Income tax authorities may treat it as taxable and vice versa. Similarly certain expense / deductions prima facie seems as allowable expenses / deduction but the Income tax authorities may treat it as not allowable and vice versa.
In such situations, the assessee is liable to pay tax and interest thereon and also liable to penalty and to be prosecuted when an addition to the returned income is made by authorities. Contrarily, sometimes an assessee as an extreme precaution pay tax on such income which is non-taxable and also not claimed expenses which are allowable, which leads to payment of additional income tax which he is not supposed to pay. In both the situations, the assessee is in the receiving end and suffered losses due to ignorance of law and also its wrong interpretation.
So, we are offering opinions to such assessees who are in dilemma in deciding about taxability of particular income or claim of expenses / deductions which are very peculiar to his case. Our opinion on any particular situation / fact are after an in-depth analysis of the facts of each case which is supported by cases decided by various authorities like Hon'ble ITAT, High Court and Supreme Court.