Commission paid to non-residents for services rendered abroad is not taxable in India
Commission paid to non-residents for services rendered abroad is not taxable in India Income deemed to accrue or arise in…
IT Judgement
Precaution during statement of Search Proceeding- Don’t forget to mention the mode of earning disclosed income
Precaution during statement of Search Proceeding- Don’t forget to mention the mode of earning disclosed income Pr. CIT v. Ritu…
Benefit of carry forward of loss available even if there is delay in submission of ITR – V
Benefit of carry forward of loss available even if there is delay in submission of ITR – V Electronics &…
No disallowance towards Interest if there is Sufficient own funds
No disallowance towards Interest if there is Sufficient own funds DCIT v. Firstsource Solutions Ltd. Decision: In assessee’s favour. …
Benefits of sec 54 F available even if residential property purchased in the name of spouse
Benefits of sec 54 F available even if residential property purchased in the name of spouse Issue: Whether benefits…
Failure to deduct TDS u/s 194B in respect of winning which are wholly in kind, can be deemed to be assessee in default u/s 201.
Failure to deduct TDS u/s 194B in respect of winning which are wholly in kind, can be deemed to be…
Reopening without inquiry & further application of mind is void
Sunil Agarwal vs. ITO (ITAT Delhi) S. 147/ 151: If the AO reopens on the basis of information received from…
Loan accepted through journal entries – No penalty leviable u/s 269SS
Loan accepted through journal entries – No penalty leviable u/s 269SS When the loan is accepted by acknowledgement of debt…
Supreme court judgement on Good seized by GST Officer- in favor of Revenue
SLP dismissed against impugned order of High Court that where assessee sought release of goods seized during transport from Delhi…
Addition U/s. 68 for Capital contribution to firm by partner cannot be sustained when partner has confirmed contribution.
Addition U/s. 68 for Capital contribution to firm by partner cannot be sustained when partner has confirmed contribution. Pr. CIT…
Container Corporation of India Ltd -Income Tax Judgement (Supreme Court)
The present appeal has been filed against the judgment and order dated 11.05.2012 passed by the High Court of Delhi…
Mahindra and Mahindra Ltd -Income Tax Judgement(Supreme Court)
Brief facts:- (a) For the proper appreciation of the issue in the case at hand, we deem it apposite to…
HCL Technologies Ltd -Income Tax Judgement(Supreme Court)
2) These appeals have been filed against the impugned judgment and order dated 15.12.2009 passed by the High Court of…
Whether the annual letting value of the property determined by the Tribunal could be a figure lower than that returned ?
The Hon’ble Calcutta High Court in CIT v/s Bhaskar Mitter, [1004] 73 Taxman 437 (Cal.) :– Issue: whether the annual…
SC affirms set off of interest income earned on deposit of share application money against share issue expenses
Supreme Court affirms set off of interest income earned on deposit of share application money against share issue expenses This…
No Assessment Order shall be Valid if it is made in the name of Deceased Person and not on Legal Heir: ITAT, Ahmedabad
No Assessment Order shall be Valid if it is made in the name of Deceased Person and not on Legal…
Bogus purchases & Income Tax Implications
Shantivijay Jewels Ltd vs. DCIT (ITAT Mumbai) April, 21st 2018 Bogus Purchases: The fact that the supplier admitted to issuing…
Section 133A -An admission of estimated income made during survey has no evidentiary value and is not binding on the assessee.
Section 133A -An admission of estimated income made during survey has no evidentiary value and is not binding on the…
