Capital Gain on sale of the property of Guarantor by the Bank?
Capital Gain on sale of the property of Guarantor by the Bank? When the mortgaged property of the guarantor is…
IT Judgement
No tax is leviable on sale of rural agricultural land, even if no proof of whether any agricultural activity is carried on that agricultural land.
No tax is leviable on sale of rural agricultural land, even if no proof of whether any agricultural activity is…
Reopening of assessment is justified if A.O. has sufficient tangible material on record to initiate re-assessment proceedings against the assessee.
Reopening of assessment is justified if A.O. has sufficient tangible material on record to initiate re-assessment proceedings against the assessee.…
No tax is required to be deducted if payment is purely in nature of reimbursement
No tax is required to be deducted if payment is purely in nature of reimbursement Cuttack Tribunal in case…
Agreement to sell entered before Assessment Year 2014-15: Applicability of Section 43CA
Agreement to sell entered before Assessment Year 2014-15: Applicability of Section 43CA Provisions of section 43CA would be effective from…
Opinions given by the chartered accountants in report u/s 44AB are not binding either on the assessees or on the assessing officer
Opinions given by the chartered accountants in report u/s 44AB are not binding either on the assessees or on the…
KERALA GST ACT, 2017 –Seizure of goods –Goods detained pending adjudication
2018 TaxPub(GST) 0265 (Ker-HC) S.K. Traders v. Asstt. State Tax Officer KERALA GST ACT, 2017 –Seizure of goods –Goods detained pending…
Taxability of Benefit match fee received by a retired cricketer – whether its a capital receipt ?
Where assessee, who was a retired international cricket player, had earned income by playing in a benefit match arranged by…
Validity of Depreciation Claimed for first time in return filed under section 153A, pursuant to search operation
Where assessee had not claimed any depreciation in its original return on taxis owned by him and had also not…
Neither agricultural activities carried out in land nor land situated beyond 8 km. of local municipal limits- Whether capital gain & section 50C applicable?
Where assessee sold a piece of land and claimed it to be agricultural land, but no agricultural activities were carried…
Penalty under section 271B–Non-filing of audit report under section 44AB–Imposition of–Assessee engaged in providing accommodation entries to entry seekers against commissioner
Where assessee had failed to get his account audited under section 271B, imposition of penalty under section 271B was justified…
Where assessee issued shares at premium, appropriate method to arrive at ‘fair market value’ (FMV) would be at option of assessee
Where assessee issued shares at premium, appropriate method to arrive at ‘fair market value’ (FMV) would be at option of…
Amount paid prior to one year for purchase of flat but sale deed executed within ome year- whether capital gain exemption available?
For the purpose of section 54, the relevant date is the date on which assessee pays final consideration amount and…
Nature of Supply goods or job work-Fabrication & fitting out bus bodies on chassis supplied by customers
2018 TaxPub(GST) 0280 (AAR-Har) IN THE AUTHORITY FOR ADVANCE RULINGS HARYANA SANGEETA KARMAKAR & VIJAY KUMAR SINGH, MEMBER Paras Motor…
Business expenditure–Capital or revenue expenditure–Payment of periodical lease rentals pursuant to a lease agreement having lease terms of more than 12 years
AO was wrong in coming to the conclusion that if the period of lease agreement is more than 12 years,…
Search and seizure–Assessment under section 153C–Seized material not belonging to assessee
Where AO had framed assessment under section 153C against assessee on basis of a list unearthed pursuant to a search…
Validity of Reassessment if Grounds for reassessment is already examined by AO during original assessment proceedings
Where reasons to believe the escapement of income, recorded in reassessment notice, were already dealt by AO during original assessment…
Business disallowance under section 40(b)–Remuneration to partner–Interest income whether to be disallowed
Business disallowance under section 40(b)—Remuneration to partner—Interest income whether to be disallowed Conclusion: Interest earned on FDRs to avail of OD…
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