Key changes proposed in the Income Tax Act – 1961 by recent Union Budget – 2019 [Finance (No. 2) Bill, 2019]

Powers of CIT(A) are co-terminus with that of AO

Approval under section 80G(5) cannot be rejected if registration is granted under section 12AA

Credit Note accounted in the Audited annual financial statement but not in GST

CBDT Clarifies as to incorrect report circulated in the Social Media on ITR filing

Deferred consideration dependent on a contingency does not accrue unless the contingency has occurred and is not liable to capital gains tax in year of transfer

The assessee is not eligible to capital gains without the accrual of the consideration to the assessee (Development Agreement)

Excrllent representation on Hardships caused to Tax payers in Income Tax Return filing by BCAS

In tax jurisprudence “intention” would be irrelevant. If therefore any action is done with contrary intention but comes within the mischief of a taxing statute, it would still apply.

Joint Development Agreement results in capital gain to the assessee?

Principal Commissioner transfer-posting orders

Payment made on October 3, 2017 shall be deemed to be paid by due date for 3rd instalment under IDS: CBDT

Would capital gain arise on transfer of goodwill?

Delhi HC held in favour of Assessee . Revision petition under Sec. 264 is maintainable against sec. 143(1) intimation

Purchase of agricultural land made prior transfer is not eligible for capital gain exemption u/s 54B

Notice u/s 143(2) issued prior to filing of ROI invalid, resulting in assessment order to be set aside

Whether capital gain exemption is available on purchase of semi-finished flat?

Preliminary expenses of assessee engaged in service sector is also eligible for deduction