Interesting Issue on deduction towards Gifts to doctors by pharmaceutical company : Prohibition imposed by Indian Medical Council against acceptance of gift was on the medical practitioner/doctor, and not on the pharmaceutical companies
Assessments made in the name of dead person could not be held to be non-est merely because procedural requirements of taking on record the legal representative were not complied with.
Whether capital Gain exemption admissible under section 54B if entire land sold was not cultivable but only part of the land was cultivable?
Court directed GST Department to re-open portal of assessee to enable it to re-file TRAN-1 electronically or allow filing of TRAN-1 manually to get tax credit
Capital gain exemption admissible even if the amount is not demarcated by depositing it in Capital Gain Deposit Account Scheme
Business deduction under section 35(1)(ii) towards Scientific research expenditure could not be disallowed if at a later point of time such registration was cancelled with retrospective effect.
Sham partnership : Where value of land contributed by assessee in stock of firm was much higher as against its negligible profit sharing in firm, entire transaction of contribution to partnership was a sham,and an attempt to device a method to avoid capital gain tax on transfer of land to firm
Delay of just 1 day in filing the return of income beyond the prescribed period and grant of benefit attached with the return filed u/s 139(1)
Surplus from assignment of loan having been taken for acquisition of capital asset is not taxable as income
Giving up of right to claim specific performance by an assessee to get conveyance of immovable property, in lieu of receiving consideration, would result in extinguishment of right in property and it would thereby attract rigour of section 2(14), read with section 2(47)
Entry in revenue records is not conclusive proof of the fact that the land is agricultural in the absence of evidence that the land is put to agricultural use
