Month: August 2020

Validity of Addition under section 68 when redeemable preferential shares have been redeemed to the investor companies in subsequent years which was much prior to the search

31 Aug 2020

Validity of Addition under section 68 when redeemable preferential shares have been redeemed to the investor companies in subsequent years…

GST

GST on Supply /Payment of lease rent to Government

31 Aug 2020

GST on Supply /Payment of lease rent to Government JSW Steel Ltd., In re Advance Ruling No. KAR-ADRG-66/2019 21 September,…

IT Judgement

No disallowance under section 40A(2)(b), once the net profit is estimated at a certain percentage of turnover

31 Aug 2020

No disallowance under section 40A(2)(b), once the net profit is estimated at a certain percentage of turnover Short Overview Once…

Income Tax

Slump Sale: Special provision for taxation on Sale of Business

31 Aug 2020

Slump Sale: Special provision for taxation on Sale of Business There are various provisions in the Income Tax Law which…

Income Tax

Caution Point: When co-owners employ their assets in a joint enterprise with a view to earn profit, by reason of their common purpose or common action they constitute an AOP

31 Aug 2020

Caution Point: When co-owners employ their assets in a joint enterprise with a view to earn profit, by reason of…

Income Tax

Charitable Trust: Accumulation of Income u/s 11(2) & its application thereafter- Confusions & Clarifications

31 Aug 2020

Charitable Trust: Accumulation of Income u/s 11(2) & its application thereafter- Confusions & Clarifications In case of charitable trust &…

GST

GST: ITC on construction of immovable properties, Commercial complex, Mall or Factory Building

29 Aug 2020

GST: ITC on construction of immovable properties, Commercial complex, Mall or Factory Building One of the most common issues in…

Income Tax

All about rebate under section 87A

29 Aug 2020

All about rebate under section 87A One of the most beneficial rebate unde the Income Tax Act – 1961 is…

Income Tax

Power of inspection, search or seizure & Fundamental rights of citizens by authoritarianism vis a vis Powers of officers

29 Aug 2020

Power of inspection, search or seizure & Fundamental rights of citizens by authoritarianism vis a vis Powers of officers 2020…

IT Judgement

Capital gains when the Permissive possession was not handed over to builder during the concerned year in terms of JDA

29 Aug 2020

Capital gains when the Permissive possession was not handed over to builder during the concerned year in terms of JDA…

GST

GST: Conversion from Composition Scheme to Regular Scheme and from Regular Scheme to Composition scheme

29 Aug 2020

GST: Conversion from Composition Scheme to Regular Scheme and from Regular Scheme to Composition scheme Composition Scheme is introduced as…

Income Tax

Alternate Minimum Tax (AMT) for Non – Corporate Assessee: An overview:

29 Aug 2020

Alternate Minimum Tax (AMT) for Non – Corporate Assessee: An overview: Without taxable income also, the tax liability could arise.…

GST

Not 30th November, but 31st October is the due date of filing Audit Report

29 Aug 2020

Not 30th November, but 31st October is the due date of filing Audit Report The income tax return has to be filed…

IT Judgement

Capital gains when the Permissive possession was not handed over to builder during the concerned year in terms of JDA

28 Aug 2020

Capital gains when the Permissive possession was not handed over to builder during the concerned year in terms of JDA…

GST

GST: Admissibility of ITC on Godown sheds, Factory Sheds & Pre-fabricated structure

28 Aug 2020

GST: Admissibility of ITC on Godown sheds, Factory Sheds & Pre-fabricated structure One of the common questions is with regard…

IT Judgement

Validity of Disallowance of depreciation on car purchased by assessee if Payment towards purchase is done from personal account

28 Aug 2020

IN THE ITAT, DELHI BENCH PRASHANT MAHARISHI, A.M. & K.N. CHARY, J.M. Desh Raj Arora v. ITO ITA No. 3004/Del/2018…

Income Tax

Taxability of Profit on sale of agricultural land if taxpayer have taken permission for conversion of land but not carried on any developmental activity

28 Aug 2020

Taxability of Profit on sale of agricultural land if taxpayer have taken permission for conversion of land but not carried…

Company Law

‘41st GST Council meeting outcome : Key highlights dated 27th August,

28 Aug 2020

‘41st GST Council meeting outcome : Key highlights dated 27th August, The 41st GST Council met under the Chairmanship…

Month: August 2020

Validity of Addition under section 68 when redeemable preferential shares have been redeemed to the investor companies in subsequent years which was much prior to the search

GST on Supply /Payment of lease rent to Government

No disallowance under section 40A(2)(b), once the net profit is estimated at a certain percentage of turnover

Slump Sale: Special provision for taxation on Sale of Business

Caution Point: When co-owners employ their assets in a joint enterprise with a view to earn profit, by reason of their common purpose or common action they constitute an AOP

Charitable Trust: Accumulation of Income u/s 11(2) & its application thereafter- Confusions & Clarifications

GST: ITC on construction of immovable properties, Commercial complex, Mall or Factory Building

All about rebate under section 87A

Power of inspection, search or seizure & Fundamental rights of citizens by authoritarianism vis a vis Powers of officers

Capital gains when the Permissive possession was not handed over to builder during the concerned year in terms of JDA

GST: Conversion from Composition Scheme to Regular Scheme and from Regular Scheme to Composition scheme

Alternate Minimum Tax (AMT) for Non – Corporate Assessee: An overview:

Not 30th November, but 31st October is the due date of filing Audit Report

Capital gains when the Permissive possession was not handed over to builder during the concerned year in terms of JDA

GST: Admissibility of ITC on Godown sheds, Factory Sheds & Pre-fabricated structure

Validity of Disallowance of depreciation on car purchased by assessee if Payment towards purchase is done from personal account

Taxability of Profit on sale of agricultural land if taxpayer have taken permission for conversion of land but not carried on any developmental activity

‘41st GST Council meeting outcome : Key highlights dated 27th August,

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