Whether education expenses paid for education of its Director is an allowable expenses ?
education expenses Whether education expenses paid for education of its Director is an allowable expenses education expenses: Where assessee company…
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Date of signing the joint Development agreement is not fully relevant for determining the Capital Gain Tax liability !!
CIT vs. Dr. Arvind S. Phake (Bombay High Court) Section 2(47)(v): Immovable property is regard to have been transferr on…
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…
Acquisition of new flat in an apartment under construction should be considered as a case of “Construction” and not “Purchase”
Mustansir I Tehsildar vs. ITO (ITAT Mumbai) CONCLUSIONS: Section 54:Acquisition of new flat in an apartment under construction should be…
Bogus LTCG from Penny stocks
Sanjay Bimalchand Jain vs. Pr CIT (Bombay High Court) GIST: Bogus LTCG from Penny stocks: The assessee has not tendered…
Capital gain exemption u/s 54B for investment in another agricultural Land
Capital gain exemption u/s 54B for investment in another agricultural Land 54B . Capital gain on transfer of land use…
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…
Agricultural Land- Meaning for the purpose of section 2(14)(iii) of the Income Tax Acty-1961
SUB-CLAUSE (iii)-AGRICULTURAL LAND (i) General Section 2(4A)(iii) of the 1922 Act excluded from the ambit of “capital asset”, any land…
Unpaid tax dues of Pvt Ltd Company is no basis to lift corporate veil; No recovery can be initiated against Directors u/s 179(1) in absence of hearing
AHEMDABAD, : THE ISSUE BEFORE THE DIVISION BENCH IS – “Whether notices in form of recovery or reminders of unpaid…
Meaning of Agricultural Land – A well elaborated order by ITAT Hyderabad !!
Income Tax Appellate Tribunal – Hyderabad Rajender Pershad Tejprakash, … vs Assessee IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES…
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 alimony received after Divorce
Prema G. Sanghvi v. ITO Decision: In assessee’s favour. Income from other sources– Receipt of alimony from ex-husband Facts: Assessee received an…
Applicability of time limit u/s 153(2A)
section 153(2A) Nokia India (P) Ltd. v. Dy. CIT Decision: In assessee’s favour. Assessment–Applicability of time-limit under section 153(2A) — Proceedings remanded…
Clarification on reservation rumor by ICAI
ICAI CLARIFICATION ON RESERVATION IN CA ANNOUNCEMENT The Institute has come across certain messages that are being aired in social…
