Explanation that the :computers got infected” is a reasonable explanation & is also reason beyond the control of the assessee. It is a reasonable cause & the return filed by assessee is to be considered as return filed under s. 139(1): Hyderabad ITAT
Merely filing of an SLP would not make the order of the Court bad in law or give a license to the Revenue to proceed on the basis that the order is stayed and/or in abeyance: Bombay HC
Classification of goods-The whole (sheep/goat) animal carcass in frozen state in different weight and size packed in LDPE bags-Whether can be regarded as ‘Unit Container’
Where assessee company made advances to its subsidiary companies out of borrowed funds who further gave said advances to SPVs of assessee , since there was no business activity undertaken by assessee except for making investment and earning dividend, expenditure incurred under head finance charges was not allowable under section 36(1)(iii)
Chargeability of capital Gain tax in case converted asset [capital asset converted to stock in trade – section 45(2)] is sold/transferred in parts in different years:
Where two views are possible and AO had taken one view with which the CIT did not agree, it could not be treated as an erroneous order prejudicial to the interests of the Revenue
An Excel sheet of “All GST Circulars and Notifications” issued till date(as on 18/08/2018) for taxlayers convenience
Capital loss– Carry forward and set-off–Set off of long-term capital loss on sale of unquoted equity shares against long-term capital gain on the sale of property
