Whether a pre-shipment advance out of which cash/trade discount was deducted by foreign party as per written trade agreement, can be construed as ‘interest’ u/s 2(28)
An interesting Judgment: “cost of the residential house so purchased” in s. 54 is not confined to the cost of civil construction but includes furniture and fixtures if they are an integral part of the purchase.
Capital gain exemption: A property may have been purchased as areadymade unit but that does not restricts the buyer from incurring anybonafide construction expenditure on improvisation or supplementary work
The requirement in s. 54(2) that the capital gains should be deposited in the CGAS scheme is merely an enabling provision. Cpaital gain exemption admissible even if it is not done so.
Whether capital gain exemption u/s 54 is available against unregistered agreement for purchase of property?
Strictures passed by Bombay HC against department for casual and careless representation despite huge revenue implications.
All about income tax return filing under section 119(2)(b) of Income Tax Act – 1961- CA Naresh Jakhotia
Rental & Maintenance income from Family Entertainment Center-cum-Mall – Whether House Property income or business income ?
Landmark Judgement : Construction of new residential building without approval of Municipal Council and capital gain exemption
Be cautious : Purchase of rural agricultural land acquired below stamp value – Invocation of section 56(2)(vii)(b) could not be set aside
For claiming exemption under section 10(23C)(iiiad), entity must be registered as an University or other Educational Institute
Validity of Penalty under section 271(1)(c) if Additional income declared in survey under section 133A is incorporated in ITR filed u/s 139
