Payment of enhanced value of assets revalued by firm whether constitute capital asset and transfer of such asset whether capital gains chargeable under section 45(4) r/w s. 2(14) on retirement of some of partners?
Validity of Addition under section 68 on the basis of Creditworthiness of the persons from whom booking advances received, proved
Validity of addition u/s 68 in the hands of the firm towards Capital introduction by partners without any supportive evidence to prove source of deposit
Credit co-operative societies is eligible for deduction u/s 80P even if they are dealing with nominal or associate member
Textile manufacturer receiving subsidy under TUFS scheme is a capital receipt or revenue receipt for income Tax purposes ?
Capital Gain Computation: Date of allotment should be taken as the date of acquisition for reckoning the assets as Long Term or Short Term Capital assets
Validity of Penalty under section 271(1)(c) if Assessee has not offeree interest income for tax due to wrong interpretations of the provisions of the Act
Interesting Judgment or Tax Planning : Capital gains u/s 45(4) against Sum of a money received by retiring partner towards value of its share in firm
Demonetisation Helpful Case: When a receipt is accounted for as income, no separate addition of the same amount as income of the assessee under any other Section of the Act can be made
Landmark Judgment: If AO passes reassessment order without disposing of objections raised by assessee, such assessment order will be without jurisdiction and only consequence which can follow is to declare the assessment order null and void
