IT JudgementIf basic documents of share allotment filed, AO cannot make additions on the ground of “Identity & credit worthiness”4 Aug 20180PCIT vs. Acquatic Remedies Pvt. Ltd (Bombay High Court) S. 68 Bogus share capital: If copies of the share application…
IT JudgementReturn is filed u/s153A(1)(a) of the Act sha be deemed to have been filed u/s 139 (1) of the Act for the benefit u/s 139(3)4 Aug 20180Important decision of hon’ble Cal HC When search operations are conducted under Section 132 of the Act, the obligation of…
IT JudgementPenny Stock judgement by Jaipur Tribunal in Pramod Kumar Lodha Vs. ITO, Jaipur.3 Aug 20180Penny Stock judgement by Jaipur Tribunal in Pramod Kumar Lodha Vs. ITO, Jaipur. [button color=”” size=”” type=”square” target=”” link=”https://drive.google.com/file/d/0BxR9OWNe1BQOOUZSR2dwRDlYdk8yNzlHUjhzc0dOakpsdTJj/view?usp=sharing”]download[/button]
IT JudgementAO should be clear whether its “inaccurate furnishing or “concealment for levying Penalty: ITAT3 Aug 20180HPCL Mittal Energy Ltd vs. ACIT (ITAT Amritsar) (Third Member) S. 271(1)(c)/ 292B: The AO cannot initiate penalty on the…
IT JudgementAppeal under IT Act, 1961 does not mean mere filing of the ‘memorandum of appeal’2 Aug 20180Appeal under IT Act, 1961 does not mean mere filing of the ‘memorandum of appeal CASE BRIEFSTRIBUNALS/COMMISSIONS/REGULATORY BODIES Published on…
IT JudgementNO COST – NO CAPITAL GAIN2 Aug 20180NO COST – NO CAPITAL GAIN Sec. 45 charges the profits or gains arising from the transfer of a capital…
IT JudgementApplication filed by charitable trust u/s 12A merits deemed registration, once Revenue Authority has not acted upon such application within six months of its receipt: HC2 Aug 20180Application filed by charitable trust u/s 12A merits deemed registration, once Revenue Authority has not acted upon such application within…
IT JudgementFormal deed of trust was not necessary for the grant of registration u/s 12A/12AA of the Act: HC2 Aug 20180The Court concurs with the ITAT that a formal deed of trust was not necessary for the grant of registration…
IT JudgementVery important Conclusion by Apex Court decision( 5 members constitutional bench) in Dilip Kumar & Co31 Jul 20180
IT JudgementWonderful Judgement – For section 54F exemption, section 50C can be ignored: Jaipur ITAT31 Jul 20180ITO vs. Raj Kumar Parashar (ITAT Jaipur) S. 50C/ 54F: If the assessee has invested the entire sale consideration in…
IT JudgementBenefit of doubt to go to Department: Supreme Court31 Jul 2018015679_2006_Judgement_30-Jul-2018
IT JudgementTime to be more alert. Tax exemption clause/ notification to be read strictly. If there is ambiguity, it must be interpreted in favour of revenue. Ratio of Sun Exports overruled by Supreme court !!31 Jul 20180Very important SC decision delivered today by 5 members constitutional bench in the case of Dilip Kumar & Co Tax…
IT JudgementNo addition in respect of penny stock on the basis of human behavior in the case of Navneet Agarwal vs. ITO: ITAT Kolkata30 Jul 20180No addition in respect of penny stock on the basis of human behaviour in the case of Navneet Agarwal vs.…
IT JudgementAn interesting issue on post sales discount – AAR Maharashtra rules out GST refund for post-sales discounts30 Jul 20180An interesting issue on post sales discount – AAR Maharashtra rules out GST refund for post-sales discounts In a setback…
IT JudgementSection 54 Relief not allowable when Builder returns Money for Flats Booked under Self-Finance Scheme : ITAT, Ahmedabad30 Jul 20180Section 54 Relief not allowable when Builder returns Money for Flats Booked under Self-Finance Scheme: ITAT The Income Tax Appellate…
IT JudgementIf payment is permisdible according to Rule 6DD then AO made the addition u/s 40A(3) without rejecting the Books of Accounts28 Jul 20180I-T – Additions cannot be made u/s 40A(3) sans rejecting books of account: HC AHMEDABAD, : THE ISSUE IS –…
IT JudgementYASODA GRAH NIRMAN SAHKARI SANSTHA MARYADIT vs. INCOME TAX OFFICER (TDS)25 Jul 20180Issue The issue involved is as to whether late filing fee u/s 234E of the Act has rightly been charged…
IT JudgementDHARA SINGH vs. INCOME TAX OFFICER – Delhi tribunal judgement dated July 20, 201825 Jul 20180DHARA SINGH vs. INCOME TAX OFFICER Delhi tribunal judgement dated July 20, 2018 In given case notice was issued under…