S. 56(2)(vii) is a counter evasion mechanism to prevent money laundering of unaccounted income & does not apply to bona fide business transaction done out of business exigency

GST on Lions Clubs: AAR Rulling

Penny Stock- Delhi ITAT in favour of Assessee

No penalty y/s 269SS if Partners introduced capital in cash

Fact that residential house consists of several independent units cannot be a hindrance to allowance of exemption u/s 54

Two adjacent residential units but used as one single residential house, exemption allowable

What is Amnesty Scheme for GST?

Whether brokerage paid is allowable while calculating capital gain?

Slum Sale : Sec. 50B

To Register At ICAI UDIN

Capital gains Exemption u/s 54F is available, If builder defaults in-completion of construction.

Provisions of sec. 40(A)(2) not applicable in case of co-operative society: Surat ITAT

Whether the expenditure to make a residential house habitable will be included in the cost of new asset?

Whether exemption under section 54F would be allowable where assessee is already a co-owner of another flat?

No need to process Vodafone’s refund claimed ITRs on likelihood of arising huge demands in assessmnent cases: HC

Delhi HC issued notice to Centre in Plea to declare Rule 5A of Service Tax Rules, 1994 (Service tax audit) inoperative after introduction of GST.

Delhi HC upheld special audit initiation on Patanjali citing complexities in accounts.

Penny Stock Judgement – SRK Industries Ltd Chennai ITAT in favour of Revenue.