Statement of Financial Transaction (SFT) – Filing Nil statement is mandatory or optional ?

Don’t forget to file SFT by 31st May !!

An appeal wrongly filed before the AO and not CIT(A) is an unintentional lapse of the assessee and delay need to be condoned.

No disallowance u/s 43B can be made for the unpaid service-tax liability which is not claimed as a deduction

Date of allotment letter issued by builder is the date relevant for reckoning it as long term or short term

Whether investment in renovation or modification of an existing house is eligible for capital gain exemption?

No capital gain exemption denial if the sale deed is in joint name.

Section 43CA for builder & developers vs. section 50C applicable to capital assets

Whether capital gain exemption admissible if new house is not used for own residence but was given on rent?

Four attached flat purchased flats can be considered as “one” house property?

Non-filing of income tax return cannot be the reason for denial of registration u/s 12AA

REVOCABLE TRUST VS IRREVOCABLE TRUST

Whether the addition can be made if higher stock figure is submitted to the bank?

Validity of Seizure of goods on allegation that e-way bill was not complete

Cash payments made to the suppliers on holidays for procurement of the materials could not be disallowed under section 40A(3)

Interesting Judgement: Charitable trust can carry forward excess of expenditure over income in the next year for set off

Whether every payment of professional fees outside India attracts TDS U/s 195?

For section 43B, Conversion of outstanding interest into loan does not amount to “actual payment”