Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) – PPIs upto ₹ 10,000/- with loading only from bank account
Addition under section 68 is not sustainable if there is a clear lack of inquiry on the part of AO: ITAT Delhi
Statement recorded during income tax survey u/s 133A, does not have a evidentiary value on its own in absence of any supportive evidence
E-Assessment Proceeding : Make all your Submission by 28th December – No submission permissible from 29th December
Money paid to perfect a title or as consideration for getting rid of a defect in the title or a threat of litigation the payment would be a capital payment and not a revenue payment: SC
Taxpayer can treat interest paid as deduction while computing capital gain even if the deduction towards housing loan was also claimed earlier: ITAT Delhi
IncomeTax is on Income. If income does not result at all, there cannot be a tax, eventhough in book-keeping, an entry is made about a ” hypothetical income”: Supreme Court
Income from undisclosed sources—Addition under section 68—Liability payable as a consequence of trading transaction
Landmark Judgment : Booking of bare shell of a flat was a case of construction of house property and not purchase – Capital Gain exemption if construction completed within 3 years
