Portfolio management fees is not deductible while computing capital gain: Mumbai ITAT
Portfolio management fees is not deductible while computing capital gain: Mumbai ITAT Portfolio management fees and performance linked fees were…
IT Judgement
SLP dismissed – No section 68 additions if identity of applicants was clearly revealed
SLP dismissed – No section 68 additions if identity of applicants was clearly revealed [2018] 98 taxmann.com 173 (SC) SUPREME COURT OF…
Disallowance u/s 14A not warranted if assessee was having sufficient own funds at its disposal for the purpose of making investments
Disallowance u/s 14A not warranted if assessee was having sufficient own funds at its disposal for the purpose of making…
Taxability of Rental income from leasing of properties
Taxability of Rental income from leasing of properties In this article we will discuss about the taxability of rental income…
Sanction for reassessment by Joint Commissioner in a mechanical manner is invalid
Sanction for reassessment by Joint Commissioner in a mechanical manner is invalid Where JCDT had accorded sanction under section 151…
Delay in e filing of appeal due to change in procedure need to be condoned
Delay in e filling of appeal due to change in procedure need to be condoned Where assessee, though filed appeal…
Non-disposal of application within six months does not result in “deemed grant of registration” for Charitable Trust
Non-disposal of application within six months does not result in “deemed grant of registration” for Charitable Trust Non-disposal of an…
TDS on commission, to Sub Agents of Lottery Distributor
TDS on commission, to Sub Agents of Lottery Distributor Tax Deduction at Source (TDS) is to be done in case…
Director’s Liability against the Tax dues of delinquent company
Director’s Liability against the Tax dues of delinquent company Jurisdiction to commence proceedings against the director of a delinquent company…
Rate of Tax for Polypropylene Leno Bags
IN THE AUTHORITY FOR ADVANCE RULINGS, WEST BENGAL VISHWANATH & PARTHASARATHI DEY, MEMBER Mega Flex Plastics Ltd., In re Order…
Section 50C (Stamp Duty Valuation Rules) apply only if Land or Building is sold and not when assessee sold right in property
Where assessee sold right to property and not land or building, section 50C would not apply. Assessee entered into an…
From when can Indexation Benefit be availed?
From when can Indexation Benefit be availed? To compute the Capital Gains we need to compute Cost of Acquisition. To…
Validity of Assessment Notice issued u/s 143(2) on the basis of original return of income instead of revised return
Validity of Assessment Notice issued u/s 143(2) on the basis of original return of income instead of revised return Assessee…
No addition on account of notional interest on interest free advance permissible if Assessee’s have sufficient surplus in capital account
No addition on account of notional interest on interest free advance permissible if Assessee’s have sufficient surplus in capital account…
Where net profit estimated by AO then disallowance under section 40(a)(ia) towards Payment without TDS can be done
Where net profit estimated by AO then disallowance under section 40(a)(ia) towards Payment without TDS can be done When income…
Validity of Transitional input tax credit on the Principles of Natural Justice where Credit is denied by issuing a show-cause notice
Validity of Transitional input tax credit on the Principles of Natural Justice where Credit is denied by issuing a show-cause…
Deemed Dividend u/s 2(22)(e) Whether only a proportionate addition can be made by considering percentage of the shareholding?
Deemed Dividend u/s 2(22)(e) Whether only a proportionate addition can be made by considering percentage of the shareholding? There cannot…
If supported by the documents on record, AO cannot treat transaction as Non-genuine due to extraneous considerations
If supported by the documents on record, AO cannot treat transaction as Non-genuine due to extraneous considerations The assessee-company is…
