Flat purchased within 3 years from the builder when it was under construction: Whether Capital Gain Exemption available?
Flat purchased within 3 years from the builder when it was under construction: Whether Capital Gain Exemption available? Here…
IT Judgement
Corpus donations received by Trusts which was not registered u/s 12A/12AA are not taxable as they assume nature of “Capital receipt’
Corpus donations received by Trusts which was not registered u/s 12A/12AA are not taxable as they assume nature of “Capital…
Corporate guarantee forms an international transaction and covered by Explanation to section 92B with retrospective effect
Corporate guarantee forms an international transaction and covered by Explanation to section 92B with retrospective effect Short Overview The Madras High…
Hardship allowance from developer is a capital receipt: ITAT Indore
Hardship allowance from developer is a capital receipt: ITAT Indore Taxation of amount received by existing owner at the time…
Maintainability of Revisione Application under section 264 & Non waiver of right of appeal
Maintainability of Revisione Application under section 264 & Non waiver of right of appeal Short Overview Assessee had not filed…
Gain arising on sale of the business assets (depreciable assets) is in the nature of business income, though it is taxed under the head ‘Capital Gains’
Gain arising on sale of the business assets (depreciable assets) is in the nature of business income, though it is…
Interesting issue: Sale of Depreciable asset after assessee discontinued claiming depreciation on the assets
Interesting issue: Sale of Depreciable asset after assessee discontinued claiming depreciation on the assets Short Overview Where assessee claimed depreciation…
Business disallowance under section 40(a)(ia) on Payment of professional charges if such charges are not claimed in profit and loss account and same being capitalized
Business disallowance under section 40(a)(ia) on Payment of professional charges if such charges are not claimed in profit and loss account…
Provisions of section 40(a)(ia) are attracted only if expenses are claimed in profit and loss account and not when the same are capitalized
Provisions of section 40(a)(ia) are attracted only if expenses are claimed in profit and loss account and not when the…
Taxation of Income Surrendered in survey & relevant Head of income applicable to such surrendered income
Taxation of Income Surrendered in survey & relevant Head of income applicable to such surrendered income Short Overview Income declared in…
CBDT invites comments on the draft notification for framing of rules for the amendments made by the Taxation Laws (Amendment) Act, 2021.
CBDT invites comments on the draft notification for framing of rules for the amendments made by the Taxation Laws (Amendment)…
Validity of Faceless assessment if opportunity of personal hearing demanded by Assessee is not granted by AO
Validity of Faceless assessment if opportunity of personal hearing demanded by Assessee is not granted by AO Short Overview Where…
Validity of addition sustained on the ground that the signature of the confirming parties were barely visible though address of the confirming parties was available in the confirmation
Validity of addition sustained on the ground that the signature of the confirming parties were barely visible though address of…
Addition done on the basis Statement recorded during survey without corroborative evidence is not sustainable
Addition done on the basis Statement recorded during survey without corroborative evidence is not sustainable Short Overview Statement of…
Interesting Judgement: Profit from the sale of jaggery is not an agricultural income as conversion of sugarcane into jaggery was also not an essential process to make sugarcane marketable.
Interesting Judgement: Profit from the sale of jaggery is not an agricultural income as conversion of sugarcane into jaggery was…
Activity of assessee for converting gold bricks, biscuits or bars, into jewellery amounted to production or manufacture of a new article and accordingly, qualifies for deduction under section 80-IB.
Activity of assessee for converting gold bricks, biscuits or bars, into jewellery amounted to production or manufacture of a new…
Writ maintanable on the Principles of Natural Justice if sufficient opportunity was not granted to petitioner
Writ maintanable on the Principles of Natural Justice if sufficient opportunity was not granted to petitioner Article 226 Since…
Computation of capital gain & expenses towards land leveling, fencing and banakhat expenses
Computation of capital gain & expenses towards land leveling, fencing and banakhat expenses This was the issue before ITAT Ahmedabad in…
