Conversion of Capital Assets in to Stock In Trade: Investment for the purpose of capital gain exemption can be done from the date of sale of Stock in Trade
All About Provision For Bad And Doubtful Debts In Respect Of Rural Advances Of Certain Banks: Section 36(1)(viia)
Amount withdrawn by legal heir from the Capital Gain Deposit Accounts Scheme-1988 (CGDAS) of the deceased is Tax Free
Final view of Supreme on section 40(a)(ia): (a) Disallowance correct even if there is nothing “payable”. (b) Amendment by FA-2010 is not retrospective in nature (c) Amount disallowable even if contract is on freelance basis
Word “family” connotes a group of people-a single person, male or female, cannot not constitute a family.
Validity of Adhoc disallowance of expenses on ground that decrease in sales amounts to decrease in expenses
“It seems that countrywide cartel specializing in defrauding the GST system is operating to bring the economy to its knees” – Observation by Odisha High Court
Year of Taxability of Capital gain if payment of entire consideration received earlier and possession handed over later