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
Landmark, interesting & very Practical Judgment: Stamp dutyvaluation cannot be adopted in case of sale of property under encroachment
Whether sale in cash or against cheque, draft etc is prohibited now? Whether any undertaking is needed for accepting payment against cash sale?
CBDT invites application for prescribing of certain electronic modes of payment u/s 269SUof the Income-tax Act, 1961
Once the prior period income is held to be taxable, the prior period expenditure also should be allowed to be set off
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)
MCACMS : An online Compliance Monitoring System byMinistry of Corporate Affairs for show cause notices and replies
No disallowance under section 40(a)(ia) even if no deduction of tax at source if Payee has paid tax to Government Account
