Equalisation levy & Amendment by Union Budget 2021

“MCA 21 Version 3.0 & Key Features”

Addition towards 850 Gms of Gold Jewellery by Joint Family Members deleted by ITAT

TCS on Sale, TDS on Purchase: All Trial & Error at the cost of the Taxpayers

Validity of issuance of section 148 notice and framing of reassessment in name of deceased assessee if AO have no knowledge about assessee’s death

Extreme physical and mental torture used by the officers during search and Appreciable Observation by the Court

Search and seizure: Statement under section 132(4) vs. Evidentiary value

Agricultural land transferred under JDA if Intention of assessee was to carry on agricultural operations: Business income or Capital gains?

Validity of Claim of short-term capital loss on depreciable asset on demolition of building without effecting transfer under section 50(2)

Leasehold Rights not liable for taxation on Notional basis under section 50C

Taxation of amount received from Unit Linked Insurance Policy (ULIP)

Now, Random scrutiny of Corporate filing by MCA

Union Budget – 2021: Uncharitable to the Charitable Trust

Guidance Note on filing of ITR 7

Dissolution & Reconstitution of a partnership Firm: Section 45(4) revised, section 45(4A) introduced:

TDS on purchase of Goods: All Trial & Error at the cost of the Taxpayers

Charitable trust: Denial of accumulation u/s 11(2) on account of non-filing of Form No. 10 before due date of filing of return of income if Assessee filed it during assessment proceedings

Deduction under section 80P(2)(a)(i): Denial in the hands of primary agricultural credit societies on the ground of negligible agricultural credits given by assessee’s