AssessmentValidity of addition solely on the basis of a statement that some payments were made7 Jan 20230Validity of addition solely on the basis of a statement that some payments were made ITAT Pune has recently held…
Business/ProfessionHouse properyAgreement done prior to 2013 and applicability of section 43CA on sale deed done after 20135 Jan 20230Agreement done prior to 2013 and applicability of section 43CA on sale deed done after 2013 There are cases…
AssessmentDemand in pursuance of order of assessment cannot be pursued without disposing off the petition for stay of demand5 Jan 20230Demand in pursuance of order of assessment cannot be pursued without disposing off the petition for stay of demand …
Other Source Of Incomeother topicPF ESIC adjustment vide 143(1) intimation is correct: Pune ITAT4 Jan 20230PF ESIC adjustment vide 143(1) intimation is correct: Pune ITAT IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH…
AssessmentIncome TaxPenalty under section 271AAB quashed as notice has a fatal error as it intends to penalize an assessee without spelling about the charge against the assessee4 Jan 20230Penalty under section 271AAB quashed as notice has a fatal error as it intends to penalize an assessee without spelling…
AssessmentPurchase by assessee could not be treated as bogus if Assessing Officer did not dispute corresponding sales transactions4 Jan 20230Purchase by assessee could not be treated as bogus if Assessing Officer did not dispute corresponding sales transactions A…
Capital GainHouse properyCapital Gain Exemption u/s 54F allowable If Property in Question Found to be Commercial Nature: ITAT2 Jan 20230Capital Gain Exemption u/s 54F allowable If Property in Question Found to be Commercial Nature: ITAT The Income Tax…
AssessmentIncome TaxIncome Tax Authorities can adopt the theory of Human probability during Assessment Proceeding2 Jan 20230Income Tax Authorities can adopt the theory of Human probability during Assessment Proceeding The Supreme Court in the case…
Business/ProfessionTaxation of amount withdrawn from Systematic Investment Plan (SIP) of Mutual fund2 Jan 20230Taxation of amount withdrawn from Systematic Investment Plan (SIP) of Mutual fund Query] I have been investing in mutual…
AssessmentIf the assessee has maintained regular books of accounts, bills, vouchers and day to day stock register having complete quantitative details, addition U/s 68 is not proper.2 Jan 20230If the assessee has maintained regular books of accounts, bills, vouchers and day to day stock register having complete quantitative…
House properyAgreement to sale entered prior to introduction of section 43CA –No addition even though the amount was received in cash if the stamp duty valuation was less at the time of agreement2 Jan 20230Agreement to sale entered prior to introduction of section 43CA –No addition even though the amount was received in cash…
Capital GainCapital Gain exemption admissible if the taxpayers acquired substantial domain over the house property and has paid the entire cost2 Jan 20230Capital Gain exemption admissible if the taxpayers acquired substantial domain over the house property and has paid the entire cost.…
Capital GainIf substantial investment is made, the capital gain exemption is admissible even if the construction is not complete2 Jan 20230If substantial investment is made, the capital gain exemption is admissible even if the construction is not complete MP…
AssessmentNo penalty U/s 271(1)(b) if the assessment is completed U/s 143(3) & not ex-parte U/s 14421 Dec 20220No penalty U/s 271(1)(b) if the assessment is completed U/s 143(3) & not ex-parte U/s 144 The imposition…
AssessmentBombay High Court allows deduction u/s 80IB(10) on issuance of completion certificate21 Dec 20220Bombay High Court allows deduction u/s 80IB(10) on issuance of completion certificate The Principal Commissioner of Income Tax-17 Versus…
House properyIncome TaxIn order to get the benefit under Section 54F, taxpayer need not complete the construction of the house and occupy the same: Madras High Court20 Dec 20220In order to get the benefit under Section 54F, taxpayer need not complete the construction of the house and occupy the…
Business/Professionother topicValidity of addition done pursuant to the statements of the third party without any incriminating material19 Dec 20220Validity of addition done pursuant to the statements of the third party without any incriminating material Here is…
Business/ProfessionCapital GainFailure of the builder to handover the possession of the property Vs. Capital Gain Exemption19 Dec 20220Failure of the builder to handover the possession of the property Vs. Capital Gain Exemption Any profit arising from…