Sole beneficiary of trust: ₹ 196 crore held by HSBC (P) Bank, Switzerland, in the name of Tharani Family Trust, of which the assessee was a beneficiary, is assessable as the undisclosed income of the assessee
Detailed Analysis of Section 195 of The Income Tax Act along with latest case laws favoring various area
Landmark Judgement: Payment made up to the due date of filing of the return of income u/s 139(4) allowable as deduction u/s 54F.
Reopening of the case U/s 148: Principle of reopening as laid down by Supreme Court in the case of Sabh Infrastructure Ltd vs ACIT on 25 September, 2017
No TDS done as Assessee having bona fide belief that section 194A not applicable: An Interesting Issue before Ahmedabad ITAT
Validity of Revision u/s 263 if there is no examination as regards eligibility of exemption u/s 54/54F while framing assessment under section 153A & there is no incriminating materials found during the course of search
The Most common addition of the Future: Unexplained investment in House property & it’s addition as Income from undisclosed sources