EOW booked Ghatkopar CA for a fraud
Acting on a complaint filed by Mahendra Moger superintendent of Central Goods and Services Tax (CGST) department and Central excise…
Controversial issues
Auditor of Nirav Modi arrested
auditor arrested The Central Bureau of Investigation (CBI) on Sunday, 4 March, arrested two employees and one auditor of Nirav…
PNB fraud: ICAI to look at auditors’ role, sets up panel to study systemic issues
PNB fraud Chartered accountants’ apex body ICAI today said it has taken suo motu cognisance of the USD 1.77 billion…
3 Years period permissible for under construction Flat for exemption u/s 54 & 54F
Mustansir I Tehsildar vs. ITO (ITAT Mumbai) CONCLUSIONS: Section 54:Acquisition of new flat in an apartment under construction should be…
CAPITAL GAIN EXEMPTION FOR INVESTMENT IN AGRICULTURAL LAND
CONDITIONS PRECEDENT FOR EXEMPTION U/S 54B The conditions necessary for grant of exemption under section 54B are : (i) capital…
Returns treated as Invalid u/s 139(9) – What can be done?
return treated as invalid There are lot of return where the return is treat as defective u/s 139(9). For multiple…
Assessment in case the return in invalidated for non receipt of ITR – V
non receipt of ITR There are lot of return where the return is treated as defective u/s 139(9). For multiple…
Capital gains–Deduction under section 54– Investment in new asset after furnishing of return under section 54
Anita Ajay Shad v. ITO Decision: Against the assessee. Capital gains–Deduction under section 54– Investment in new asset after furnishing…
Subsidy received is not Taxable !!
CIT vs. Chaphalkar Brothers Pune (Supreme Court) Taxability of subsidies: A subsidy granted by the Govt to achieve the objects…
Hold the breath: Delhi HC admits plea against section 43CA
Admits Builder’s challenge on vires of stamp duty value based taxation u/s. 43CA* Delhi HC admits Ansal Housing & Construction…
Taxation of F & O transactions
Taxation of F & O transactions Query 1] I am trading in equities; both delivery as well as non delivery…
An additional compliance of submitting estimated current Income & Advance tax payment
Advance tax payment Query 1] We have read in the newspaper about filing of estimate of income tax return before…
Even small size firm are to get its accounts audited if income offered for taxation is less than 8%
taxation is less than 8% Query 1] We have 2 small Partnership Firms, one doing trading and other doing profession.…
