Forex fluctuation gains on loan taken for purchase of ships entitled to benefit of tonnage taxation scheme Inbox x
Revisionary proceedings could be initiated by CIT if view taken by AO was clearly unsustainable in law
Interest income is not seperately assessable & can be adjusted against interest expenditure incurred by the assessee
Kerala Cricket Association Vs Addl CIT – Whether Writ Courts are not expected to dispose of the entire appeal merely on the basis of their decision on any particular issue under consideration?
CIT(A) can not refuse to adjudicate the additional grounds raised by the assessee if directed by ITAT
Addition is justified u/s 68 as shares issued at huge premium were subscribed by persons having nominal income
Premium paid on acquisition of securities can be amortized if they are acquired at a rate higher than the face value
Interesting Judgement: Period of holding commences from the date of agreement to purchase and date of possession is irrelevant .
Forget sale deed. Compute capital gain from the date of agreement- Interesting case in favor of taxpayer
Assessment framed by AO u/s 143(3) against a non-existent entity despite being informed about merger of assessee company with its holding company is liable to be quashed
