Adding a Name or Writing a Will: The Golden Rules for Property Inheritance  

Completion of construction not required to claim exemption U/S 54: ITAT Bangalore

Taxability of transfers from HUF members to HUF and vice versa:

TDS credit should be given in the year it is deducted, regardless of the year the income is assessed: Ahmedabad ITAT

No capital gain exemption under section 54F if investment is not in a residential house

No revision u/s 263 if assessment order is neither erroneous nor prejudicial to the interest of revenue

Penalty of Rs. 4 Lakh imposed by ROC, Jaipu merely because the date of the board meeting was wrongly mentioned in the board report

CBDT’s Circular granting the relief if there is a delay in filing of Form 10-IC or Form 10-ID to avail concessional tax regime (CTR) under Sections 115BAA and 115BAB

Whether assessments could be conducted against a merged entity/ non existent entity in light of the Religare case?

If a deceased person has been brought on record as legal heir then mentioning the PAN of the deceased person in the ‘Order’ will render the Order nullity.

If conditions for reopening of the assessment under Section 153C is not satisfied, recourse to Section 147 is not precluded: Delhi HC

Can ITC be availed on advances paid for goods or services?

Joint Development Agreement under the spotlight of the Income Tax Department

Penalty proceeding of a company in old Name – Minor errors in notices or proceedings do not invalidate the proceeding: Delhi HC

Invocation of section 263 is not justifiable if the same is the result of difference of opinion: ITAT Ahmedabad

AO didn’t adequately considered the evidence in the form of allotment letter and the timing of the agreements: ITAT, Mumbai deleted addition U/s 43CA

Who are required to file GST Annual Return despite filing monthly returns?

CBDT Advisory for accurately completing Schedule Foreign Assets and reporting income from foreign sources in their ITRs.