Transfer of jurisdiction under section 127: Non-disclosure of reasons or failure to provide a hearing to the assessee renders the transfer order invalid.
No Capital gain exemption where more than one flat purchase is on separate floors, located at diagonally opposite ends of the same tower.
Where the basis of appeal is the ITR, the appeal would be dismissed, if the return is invalid: ITAT Chandigarh
Transfer of Funds or Assets to a Family Trust with Non-Resident Beneficiaries: Need to have a cautious approach.
Indian Resident is entitled to claim indexation benefit on sale of foreign assets while computing long term capital gains under Section 45
Actual write – off of bad debts in the books is sufficient for claiming the deduction – There is no need for evidence to substantiate claims of bad debts.
Delhi HC asked CBDT to consider eligibility of VSVS 2024 by those taxpayers wherein statutory timelimit to file appeal has not expired on 22.7.2024.
Ensuring Independence of Auditor: Absolutely Amazing Representation by Chartered Accountants Association, Surat
7 days delay in depositing unspent CSR amount of Rs.68.48 lakhs to PM Cares Fund – Penalty of Rs.1.06 crores was imposed:
Order passed by CIT (A) without reasoning on the issues on merits is clearly in violation of section 250(6) of the Act and liable to be set side: ITAT Agra
Grant of sanction by the appropriate authority is a precondition for AO to assume valid jurisdiction for issue of 148 notice: Mumbai ITAT
