IT JudgementIncome–Accrual–Goods sold in loss by E- commerce company14 Aug 20180Income–Accrual–Goods sold in loss by E-commerce company Facts: The assessee was a company. During the relevant previous year it was…
IT JudgementWhen valuation of property by stamp authority is higher than actual sale price, then before calculation of capital gain on such higher value, AO should refer capital asset to DVO for valuation even if not prayed for: ITAT14 Aug 20180I-T – When valuation of property by stamp authority is higher than actual sale price, then before calculation of capital…
IT JudgementIf AO dont have jurisdiction over Assessee u/s 143(2), order is Invalid !!13 Aug 20180it1
IT JudgementTDSAssessee is liable to TDS on LTC allowance even if it comes to know about foreign travel by employees only at time of reimbursement of bills: ITAT13 Aug 20180Assessee is liable to TDS on LTC allowance even if it comes to know about foreign travel by employees only…
IT JudgementIf rent is inextricably linked with business, it cannot be treated as income from house property : ITAT13 Aug 20180If rent is inextricably linked with business, it cannot be treated as income from house property : ITAT MUMBAI, :…
IT JudgementSection 43CB & section145 discussed in Ashoka Hi-Tech Builders Pvt.Ltd vs. DCIT (ITAT Indore)13 Aug 20180Ashoka Hi-Tech Builders Pvt.Ltd vs. DCIT (ITAT Indore) S. 43CB/ 145: Entire law on taxation of real estate construction contracts…
IT JudgementUndisclosed Stock taxable as unexplained Assests u/s 6911 Aug 20180Undisclosed Stock taxable as unexplained Assets u/s 69 of Income Tax Act 1961 Income Tax Act has been amended drastically…
IT JudgementReceipts for Exercising Voting Rights in a Company is not Taxable: Calcutta HC10 Aug 20180ORDER SHEET ITAT 160 of 2013 GA 3234 of 2013 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax)…
IT Judgement‘Technical Error’ on the part of Chartered Accountant can’t be treated as Professional Misconduct:9 Aug 20180 ‘Technical Error’ on the part of Chartered Accountant can’t be treated as Professional Misconduct: AA The Appellate Authority has recently…
IT JudgementWhether exemption u/s 10(38) is disallowed due to dematerialization of shares prior to sale?8 Aug 20180Facts of the case SUNITA KHEMKA vs. ASSISTANT COMMISSIONER OF INCOME TAX Assessee claimed exemption u/s.10(38) in respect of long…
IT JudgementSec. 14A couldn’t be invoked if no exempt income was earned during the year: SC dismissed SLP8 Aug 20180– SLP dismissed against High Court ruling that section 14A cannot be invoked where no exempt income was earned by…
IT JudgementNotice issued in name of dead person is not enforceable in law8 Aug 201802018] 95 taxmann.com 155 (Madras) HIGH COURT OF MADRAS Alamelu Veerappan v. Income Tax Officer, Non-corporate Ward-2(2), Chennai* T.S. SIVAGNANAM, J. WRIT…
IT JudgementXAVIER INSTITUTE OF MANAGEMENT Vs. INCOME TAX OFFICER7 Aug 20180Facts of the case Charitable trust has income from training and consultancy.AO observed that income derived from training and consultancy…
IT JudgementMadras High Court on Writ Petition filed by directors challenging Arbitrary Strike Off & Director disqualification !!7 Aug 20180Madras High Court delivered a judgement on Writ Petition filed by directors challenging Arbitrary Strike Off & Director disqualification. The…
IT JudgementInterest paid to Private Bank can’t be disallowed u/s 43B : ITAT7 Aug 20180Interest paid to Private Bank can’t be disallowed u/s 43B: ITAT ITAT [button color=”” size=”” type=”round” target=”” link=”https://thetaxtalk.com/”]home[/button] [button color=””…
IT JudgementNo additon u/s 68 if assessee failed to produce persons who had applied as shareholders- SC dismissed SLP7 Aug 20180No additon u/s 68 if assessee failed to produce persons who had applied as shareholders- SC dismissed SLP IT: SLP…
IT JudgementForget Identity, Credit worthiness & Genuineness, Share premium is taxable as Income !! (Courtsey: Section 56(2)(viib))7 Aug 20180Forget Identity, Credit worthiness & Genuineness, Share premium is taxable as Income !! (Courtsey: Section 56(2)(viib)) Sunrise Academy of Medical…
IT JudgementOrder u/s154 of the Income Tax Act, 1961 canno be done by AO on the basis of Audit Objection7 Aug 20180ITA No.328-A. K, Transport Agency vs. ITO ITA No.328-A. K, Transport Agency vs. ITO