Deferred sales tax liability credited by assessee under capital reserve account was a capital receipt & could not be termed as remission/cessation of liability for levy of income tax
If profit or loss of business carried on by wife or minor children is clubbed with assessee’s income then he is also entitled to set off his loss against such income.
Where the plain literal expression of the statutory provisions produces manifestly unjust results, which could never have been intended by the legislature, the Court can modify the language to achieve the intention of the legislature and produce a rational construction.
Holding of legal title of new house within a period of one year is not a condition for capital gain exemption u/s 54
Release of shares in house property by co-owners in favour of one in lieu of obligation to pay cash, tantamounts to purchase for exemption u/s 54
Business expenditure disallowance not justified if based merely on conjecture and surmise and not on any material
GST: The transaction of depositing timer by the applicant with the Government Timber depot for disposal would amount to “supply”
Revision under section 263 for erroneous and prejudicial order for capital gain exemption if agricultural land is purchased in the name of son
Deduction towards advance given for purchase of land by the developers and written off in the books of accounts.
If co-operative society is dealing with non – members for loans and deposits, then benefit of section 80P cannot be allowed: SC in citizens Co-operative society ltd
Indian Income Tax Department does not have the data of Income Tax Return Filed? – Shocking Reply in response to the RTI Application
Anomaly in Limitation date for completion of Transfer Pricing Assessment Proceedings for AY 2018-19: An Excellent compilation by KSCAA
