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Business/ProfessionTaxation of amount withdrawn from Systematic Investment Plan (SIP) of Mutual fund2 Jan 20230Taxation of amount withdrawn from Systematic Investment Plan (SIP) of Mutual fund Query] I have been investing in mutual…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…
House properyDifferent flats sold by builders to different persons at different rates: Whether AO can apply a higher rate to all the flats?16 Dec 20220Different flats sold by builders to different persons at different rates: Whether AO can apply a higher rate to all…
Business/Professionother topicSaving surcharge on income tax by way of having the Partnership Firm:15 Dec 20220Saving surcharge on income tax by way of having the Partnership Firm: Partnership firm is one of the most…
Capital GainLong term capital loss is available for set-off in the hands of the successor amalgamated company: ITAT14 Dec 20220Long term capital loss is available for set-off in the hands of the successor amalgamated company: ITAT Capgemini Technology…
Articleother topicAn Apt Pre-Budget Memorandum 2023-24 By Chartered Accountants Association Surat26 Nov 20221 CommentAn Apt Pre-Budget Memorandum 2023-24 By Chartered Accountants Association Surat Pre-Budget Memorandum 2023-24-compressed
ArticleIgnorance of law is certainly no excuse but, at the same time, there is no presumption in law that everybody knows the law.7 Jun 20220Ignorance of law is certainly no excuse but, at the same time, there is no presumption in law that everybody…
Capital GainCapital loss – Expenditure claimed on abandoned project4 Apr 20220Capital loss – Expenditure claimed on abandoned project Author CA. AJAY KUMAR AGRAWAL ITAT CHENNAI…
ArticleEverything about Annual Information Statement (AIS)16 Nov 20210 Everything about Annual Information Statement (AIS) The Income Tax Department has been releasing various materials for update and awareness of…