Deduction towards Business expenditure by way of pension paid to whole-time director
Deduction towards Business expenditure by way of pension paid to whole-time director Short Overview Whole-time directors to whom pension of…
IT Judgement
CBDT issued instructions asking AO to upload information on the portal of assessee by 31.12.2021 for AY 2015-16 & 2018-19 for reopening of asstt.
CBDT issued instructions asking AO to upload information on the portal of assessee by 31.12.2021 for AY 2015-16 & 2018-19 for…
Loss on account of forfeiture of advance if incidental to the business of the assessee is allowable as a deduction
Loss on account of forfeiture of advance if incidental to the business of the assessee is allowable as a deduction…
Sale of Agricultural Land is not liable for capital gain tax if it is not a capital asset
Sale of Agricultural Land is not liable for capital gain tax if it is not a capital asset ITAT Ahmedabad…
Validity of order if CIT invoked jurisdiction under section 263 on the issues other than those decided in limited scrutiny assessment under section 143(2)(i)
Validity of order if CIT invoked jurisdiction under section 263 on the issues other than those decided in limited scrutiny assessment…
Penalty if Assessee, the Co-operative Bank, accepted deposits in cash exceeding Rs. 20,000 from its members which is prohibited under provisions of section 269SS
Penalty if Assessee, the Co-operative Bank, accepted deposits in cash exceeding Rs. 20,000 from its members which is prohibited under…
To assess tax on the assets seized during search, there is no necessity for extending assessee the benefit of cross-examination of witnesses.
To assess tax on the assets seized during search, there is no necessity for extending assessee the benefit of cross-examination of…
Validity of revision under section 263 if no reference is made by AO to TPO as regards specified domestic transaction
Validity of revision under section 263 if no reference is made by AO to TPO as regards specified domestic transaction…
If renting out is the business of the assessee, it could be regarded as a business income: ITAT
If renting out is the business of the assessee, it could be regarded as a business income: ITAT Shri Shanthilal…
Prior Period Expenses: No deduction if there is no evidence that expenses had been crystallized during the year
Prior Period Expenses: No deduction if there is no evidence that expenses had been crystallized during the year Short Overview…
Validity of addition done purely on basis of noting in diary impounded during survey without any corroborative evidence
Validity of addition done purely on basis of noting in diary impounded during survey without any corroborative evidence …
Validity of penalty levied for non maintenance of books of accounts on the basis of statements given during survey if the audit report was furnished at the time of filing income tax return
Validity of penalty levied for non maintenance of books of accounts on the basis of statements given during survey if…
Allowability of Depreciation on Server, storage and accessories procured by aasessee on lease
Allowability of Depreciation on Server, storage and accessories procured by aasessee on lease Short Overview assessee claimed depreciation on new server,…
Reassessment quashed as there was tangible material in possession of AO at the time of reopening and re-pening based merely on CIB Report alone
Reassessment quashed as there was tangible material in possession of AO at the time of reopening and re-pening based merely…
Notional interest: Can interest free deposit form a part of sales consideration for calculation on capital gains?
Notional interest: Can interest free deposit form a part of sales consideration for calculation on capital gains? There are situation…
No failure on assessee’s part to disclose fully and truly all material facts during original assessment – Whether Reassessment proeeding justified?
No failure on assessee’s part to disclose fully and truly all material facts during original assessment – Whether Reassessment proeeding…
Validity of Reassessment on the basis of information gathered during course of statement recorded under section 132(4) from searched person by investigation wing
Validity of Reassessment on the basis of information gathered during course of statement recorded under section 132(4) from searched person by…
Capital Gain exemption if multiple flats received pursuant to Joint Development Agreement
Capital Gain exemption if multiple flats received pursuant to Joint Development Agreement ITAT Bangalore in the case of Ganga…
