Ad-hoc disallowance without pointing out defect is not sustainable
Ad-hoc disallowance without pointing out defect is not sustainable Disallowance had been made on ad-hoc basis without pointing out…
IT Judgement
Transactions of receipt and payment on the same date cannot be treated as Deemed dividend u/s 2(22)(e)
Transactions of receipt and payment on the same date cannot be treated as Deemed dividend u/s 2(22)(e) Trade and commercial…
Sum received on relinquishment of ‘right to sue’ is non-taxable capital receipt: ITAT
Sum received on relinquishment of ‘right to sue’ is non-taxable capital receipt: ITAT Facts: a) Assessee-company entered into a development…
Business disallowance u/s 40(a)(i) cannot be done if amount not claimed as deduction
Business disallowance u/s 40(a)(i) cannot be done if amount not claimed as deduction Where assessee had not claimed impugned amount…
CBDT Instruction 1994 dated 11-05-1994 – Permissible holding of Gold not liable for seizure in search operation
CBDT Instruction 1994 dated 11-05-1994 – Permissible holding of Gold not liable for seizure in search operation CBDT Instruction 1994…
Assessment based on Information from the Investigation Wing of Income Tax is Valid: ITAT
Assessment based on Information from the Investigation Wing of Income Tax is Valid: ITAT The New Delhi bench of ITAT…
Date of agreement to sale can be considered as the date of transfer and not the date of conveyance deed.
Sections 2(47) and 54 – Condition regarding purchase of new property within one year of transfer of old property –…
Assessee entitled to additional depreciation on plant and machinery used in manufacture of ready mix concrete
Section 32 – Depreciation – Additional depreciation – Condition precedent – Manufacture of article – Assessee need not be principally…
Section 234E cannot be said to be unreasonable and arbitrary: Kerala HC
Section 234E cannot be said to be unreasonable and arbitrary: Kerala HC Section 234E cannot be said to be unreasonable…
Judgement imposing personal dine of Rs 1 Lakh on Commissioner (Appeal)
Judgement imposing personal dine of Rs 1 Lakh on Commissioner (Appeal) Strictures: The total callous, negligent and disrespectful behaviour shown…
On-call advisory services provided to Indian customers in trouble-shooting couldn’t be treated FTS: ITAT
On-call advisory services provided to Indian customers in trouble-shooting couldn’t be treated FTS: ITAT Facts: a) The assessee was providing…
AOs order on Penny Stock upheld by Chennai ITAT
AOs order on Penny Stock upheld by Chennai ITAT [button color=”” size=”” type=”” target=”” link=”https://drive.google.com/file/d/0BxR9OWNe1BQOamZZRlNqMXR6dlpPVHR3VklxVDA5TWpEbXl3/view?usp=sharing”]Download[/button]
Exemption u/s 11 is available towards excess application of earlier year’s against current year’s income
Exemption u/s 11 is available towards excess application of earlier year’s against current year’s income Excess expenditure in earlier years…
Sum received on renting of terrace for installation of mobile tower taxable as house property income: ITAT
Sum received on renting of terrace for installation of mobile tower taxable as house property income: ITAT Facts: a) Assessee…
Transit declaration form wrongly downloaded by the transporter & Release thereof
Transit declaration form wrongly downloaded by the transporter & Release thereof Haryana Freight Carrier (P) Ltd. v. State of UP…
Can the set off of Loss incurred by Co-operative Society in an activity be allowed against the profit earned from another activity?
Can the set off of Loss incurred by Co-operative Society in an activity be allowed against the profit earned from…
Addition towards Capital introduced by partner can be made in the Hands of the partner and not in the Hands of the firm
Addition towards Capital introduced by partner can be made in the Hands of the partner and not in the Hands…
Validity of Reassessment of Non notice under section 143(2) issued
Validity of Reassessment of Non notice under section 143(2) issued Where AO has failed to issue notice under section 143(2)…
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