Compensation paid to the family members of deceased, even though non-contractual payment /gratuitous payment cannot be disallowed.
Capital gain exemption u/s 54 or 54F cannot be denied if taxpayer has invested the amount within time allowed u/s 139(4)
Refundable security deposit cannot be said to be of the nature of trade receipt & cannot be treated as in the revenue account
Delhi HC orders reactivation of DIN/DSC of directors of defaulting Cos. to allow them to start a new business
Partnership firm stands dissolved on the death of a partner if there is no provision in the partnership deed that death of a partner shall not result in the dissolution of firm and a partner dies
Addition merely by relying on the statement of third party without resorting to verification u/s.133(6) or u/s.131 is not permissible
Statement given during the course of survey is not a statement on oath as given u/s. 132(4) of the Act and therefore has no evidentiary value.
Offence u/s 8 of Prevention of Corruption Act would be triable by Special Court u/s 33(1)(a) of PMLA: HC
CBDT notified Income Tax Rule 8AC so as to provide for computation of short term capital gains and written down value u/s 50 where depreciation on goodwill has been obtained
Applicability of TCS A& TDS on Buying and Selling of Bullion & Jewellery: Clarification issued by India Bullion & Jewellers Association Ltd
Addition under Section 68 is not sustainable where CIT (A) had given bald findings without giving any cogent and convincing reasons based on evidence on record.
Receipt of amount under a settlement for agreeing to not disputes the probate & withdraw caveat is not liable for taxation
No revision u/s 263 if AO has done enquiries. AO has not given reasons in the assessment order is not indicative, always, of whether or not he has applied his mind. : Delhi HC
Benefit of capital gain exemption could not be denied merely because the builder failed to hand over possession of flat to assessee within prescribed time
