Sec. 14A couldn’t be invoked if no exempt income was earned during the year: SC dismissed SLP
– SLP dismissed against High Court ruling that section 14A cannot be invoked where no exempt income was earned by…
IT Judgement
Notice issued in name of dead person is not enforceable in law
2018] 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…
XAVIER INSTITUTE OF MANAGEMENT Vs. INCOME TAX OFFICER
Facts of the case Charitable trust has income from training and consultancy.AO observed that income derived from training and consultancy…
Madras High Court on Writ Petition filed by directors challenging Arbitrary Strike Off & Director disqualification !!
Madras High Court delivered a judgement on Writ Petition filed by directors challenging Arbitrary Strike Off & Director disqualification. The…
Interest paid to Private Bank can’t be disallowed u/s 43B : ITAT
Interest 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=””…
No additon u/s 68 if assessee failed to produce persons who had applied as shareholders- SC dismissed SLP
No additon u/s 68 if assessee failed to produce persons who had applied as shareholders- SC dismissed SLP IT: SLP…
Forget Identity, Credit worthiness & Genuineness, Share premium is taxable as Income !! (Courtsey: Section 56(2)(viib))
Forget Identity, Credit worthiness & Genuineness, Share premium is taxable as Income !! (Courtsey: Section 56(2)(viib)) Sunrise Academy of Medical…
Order u/s154 of the Income Tax Act, 1961 canno be done by AO on the basis of Audit Objection
ITA No.328-A. K, Transport Agency vs. ITO ITA No.328-A. K, Transport Agency vs. ITO
If basic documents of share allotment filed, AO cannot make additions on the ground of “Identity & credit worthiness”
PCIT vs. Acquatic Remedies Pvt. Ltd (Bombay High Court) S. 68 Bogus share capital: If copies of the share application…
Return 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)
Important decision of hon’ble Cal HC When search operations are conducted under Section 132 of the Act, the obligation of…
Penny Stock judgement by Jaipur Tribunal in Pramod Kumar Lodha Vs. ITO, Jaipur.
Penny 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]
AO should be clear whether its “inaccurate furnishing or “concealment for levying Penalty: ITAT
HPCL Mittal Energy Ltd vs. ACIT (ITAT Amritsar) (Third Member) S. 271(1)(c)/ 292B: The AO cannot initiate penalty on the…
Appeal under IT Act, 1961 does not mean mere filing of the ‘memorandum of appeal’
Appeal under IT Act, 1961 does not mean mere filing of the ‘memorandum of appeal CASE BRIEFSTRIBUNALS/COMMISSIONS/REGULATORY BODIES Published on…
NO COST – NO CAPITAL GAIN
NO COST – NO CAPITAL GAIN Sec. 45 charges the profits or gains arising from the transfer of a capital…
Application 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: HC
Application filed by charitable trust u/s 12A merits deemed registration, once Revenue Authority has not acted upon such application within…
Formal deed of trust was not necessary for the grant of registration u/s 12A/12AA of the Act: HC
The Court concurs with the ITAT that a formal deed of trust was not necessary for the grant of registration…
Wonderful Judgement – For section 54F exemption, section 50C can be ignored: Jaipur ITAT
ITO vs. Raj Kumar Parashar (ITAT Jaipur) S. 50C/ 54F: If the assessee has invested the entire sale consideration in…
