One time non-refundable entrance fees received by assessee for enrolment of its customers as members of executive centre do not constitute revenue receipt
Validity of addition to income on the difference between income in original return and revised return without rejection of books by AO
Once an agreement to sell is executed in favour of one person, the said person gets a right to get the property transferred in his favour by filing a suit for specific performance and so Capital Gain exemption is admissible.
Taxation of income in any year depends upon when does a right to receive an amount accrue or arise to the assessee: Supreme Court
No honest taxpayer or rule compliant stakeholders, including CAs have ever faced any difficulty in the past and nor will they face any problem in future in their interactions with the Department in smooth implementation of the Act: Press Release issued by GST Commissionerate, Faridabad
GST professionals must maintain arm’s length distance with their clients: Role of CA in the Faridabad GST Fake Invoice Case
If the income has accrued during any particular year, it is not open to the assessee or the ITO to take that income into consideration in any other year
The statute does not provide for any provision for lapsing of unutilized input tax credit for non filing of TRAN-1: Kerala HC
It is axiomatic that computer literacy has not reached its pinnacle in our country. Technical glitches at the transition stage to GST should not affect above said statutory right of dealers: Kerala HC
AO does not assess income for which reasons were recorded u/s 147, he cannot assess other income u/s 147
Extension of Due Date of Various forms under Income Tax which were due on 31st July done today in view of glitches in new portal
Assessing Officer is not required to disclose the “Reason to believe to conduct a search” on the taxpayers
Section 80P Deduction allowable to Co-Operative Credit Society as it is not a Co-Operative Bank: ITAT
