IT Judgement

Penalty is not leviable where the penalty proceedings were initiated long after the completion of assessment and order was silent about the levy of penalty

6 years ago

Penalty is not leviable where the penalty proceedings were initiated long after the completion of assessment and order was silent…

IT Judgement

Capital gain exemption under section 54F if flat cancelled due to delay by the builder

6 years ago

Capital gain exemption under section 54F if flat cancelled due to delay by the builder Short Overview : Where assessee did…

IT Judgement

Interest expense on loan for acquisition of the asset and it’s deduction while computing capital gain – Delhi ITAT held that “Deduction under section 24(b) and computation of capital gains under section 48 are altogether covered by different heads of income”

6 years ago

Interest expense on loan for acquisition of the asset and it’s deduction while computing capital gain – Delhi ITAT held…

IT Judgement

Condonation for delay in filing appeal condoned – Held that “By filing appeal belatedly, no benefit had accrued to assessee. In fact, non-filing of the appeal would act as detrimental to the interest of assessee, therefore, delay in filing of appeal could not be construed as intentional error/comission on part of assessee”.

6 years ago

Condonation for delay in filing appeal condoned – Held that “By filing appeal belatedly, no benefit had accrued to assessee.…

IT Judgement

Assessee need not be intimated before attachment of his bank account

6 years ago

Assessee need not be intimated before attachment of his bank account Gecas Services India Pvt. Ltd. Vs Income Tax Officer…

IT Judgement

Suspicion, howsoever strong, could not be reason for making additions and it could not replace evidence on record

6 years ago

Suspicion, howsoever strong, could not be reason for making additions and it could not replace evidence on record Short Overview…

IT Judgement

GST : Order for release of vehicle could not be passed if assessee failed to discharge the burden envisaged under the Act

6 years ago

GST : Order for release of vehicle could not be passed if assessee failed to discharge the burden envisaged under…

IT Judgement

Initiation of penalty proceeding on one ground and levying of penalty on different ground : Interesting Observation as to validity of Penalty Imposition

6 years ago

Initiation of penalty proceeding on one ground and levying of penalty on different ground : Interesting Observation as to validity…

IT Judgement

Addition under section 68 : No particular occasion required for gifts made out of natural love and affection

6 years ago

Addition under section 68 : No particular occasion required for gifts made out of natural love and affection short Overview…

IT Judgement

Interest expenses on loan advanced to sister concern at nil rate for earning interest income & AO allegation of commercial expediency

6 years ago

Interest expenses on loan advanced to sister concern at nil rate for earning interest income & AO allegation of commercial…

IT Judgement

Business disallowance under section 40(a)(ia) for Non-deduction of tax at source on Retainership fee paid by assessee & shown as salary by recipient in their return

6 years ago

Business disallowance under section 40(a)(ia) for Non-deduction of tax at source on Retainership fee paid by assessee & shown as…

IT Judgement

Validity of Addition to income due to Difference in stock noticed during survey if Assessee duly reconciled discrepancy with positive material

6 years ago

Validity of Addition to income due to Difference in stock noticed during survey if Assessee duly reconciled discrepancy with positive…

IT Judgement IT Judgement

Capital gains: Whether AO has power to refer the matter to DVO and deny the valuation report as on 1-4-1981 of a registered valuer?

6 years ago

Capital gains: Whether AO has power to refer the matter to DVO and deny the valuation report as on 1-4-1981…

IT Judgement

Expenditure against exempt income & it’s Applicability with respect to profit share arising from partnership

6 years ago

Expenditure against exempt income & it’s Applicability with respect to profit share arising from partnership Short Overview : Provisions of section…

IT Judgement

Stamp duty and registration charges for execution of lease deed is a Capital or revenue expenditure ?

6 years ago

Stamp duty and registration charges for execution of lease deed is a Capital or revenue expenditure ? Short Overview: Stamp duty…

IT Judgement

Set-off of business income against Loss suffered from derivative transactions

6 years ago

Set-off of business income against Loss suffered from derivative transactions Short Overview : Where loss suffered from ‘derivative transactions’ was once…

Income Tax IT Judgement IT Judgement

No interest u/s 234B & 234C if the tax liability arises due to retrospective amendment of law: Calcutta HC

6 years ago

No interest u/s 234B & 234C if the tax liability arises due to retrospective amendment of law: Calcutta HC …

Income Tax IT Judgement

Word “otherwise” in s. 45(4) takes within its sweep not only cases of dissolution but also cases of subsisting partners of a partnership transferring assets in favour of a retiring partner

6 years ago

Word “otherwise” in s. 45(4) takes within its sweep not only cases of dissolution but also cases of subsisting partners…

IT Judgement

Penalty is not leviable where the penalty proceedings were initiated long after the completion of assessment and order was silent about the levy of penalty

Capital gain exemption under section 54F if flat cancelled due to delay by the builder

Interest expense on loan for acquisition of the asset and it’s deduction while computing capital gain – Delhi ITAT held that “Deduction under section 24(b) and computation of capital gains under section 48 are altogether covered by different heads of income”

Assessee need not be intimated before attachment of his bank account

Suspicion, howsoever strong, could not be reason for making additions and it could not replace evidence on record

GST : Order for release of vehicle could not be passed if assessee failed to discharge the burden envisaged under the Act

Initiation of penalty proceeding on one ground and levying of penalty on different ground : Interesting Observation as to validity of Penalty Imposition

Addition under section 68 : No particular occasion required for gifts made out of natural love and affection

Interest expenses on loan advanced to sister concern at nil rate for earning interest income & AO allegation of commercial expediency

Business disallowance under section 40(a)(ia) for Non-deduction of tax at source on Retainership fee paid by assessee & shown as salary by recipient in their return

Validity of Addition to income due to Difference in stock noticed during survey if Assessee duly reconciled discrepancy with positive material

Capital gains: Whether AO has power to refer the matter to DVO and deny the valuation report as on 1-4-1981 of a registered valuer?

Expenditure against exempt income & it’s Applicability with respect to profit share arising from partnership

Stamp duty and registration charges for execution of lease deed is a Capital or revenue expenditure ?

Set-off of business income against Loss suffered from derivative transactions

No interest u/s 234B & 234C if the tax liability arises due to retrospective amendment of law: Calcutta HC

Word “otherwise” in s. 45(4) takes within its sweep not only cases of dissolution but also cases of subsisting partners of a partnership transferring assets in favour of a retiring partner

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