IT Judgement

Landmark Judgment : Booking of bare shell of a flat was a case of construction of house property and not purchase – Capital Gain exemption if construction completed within 3 years

6 years ago

Landmark Judgment : Booking of bare shell of a flat was a case of construction of house property and not…

IT Judgement TDS

Landmark Judgment : Shortfall in deduction of TDS don’t attract disallowance u/s 40(a)(ia)

6 years ago

Landmark Judgment : Shortfall in deduction of TDS don’t attract disallowance u/s 40(a)(ia) Hall Offshore Ltd. v. ACIT Decision: …

Income Tax IT Judgement

Applying the definition of benami property and benami transaction the Central government could not, on the basis of the 2016 amendment allege contravention and start the prosecution in respect of a transaction in 2011.

6 years ago

Applying the definition of benami property and benami transaction the Central government could not, on the basis of the 2016…

Income Tax IT Judgement

Whether the Tribunal was right in holding that the income would crystallize on approval of assessee’s claim for reimbursement by competent authority while dealing with the issue of reimbursement

6 years ago

Whether the Tribunal was right in holding that the income would crystallize on approval of assessee’s claim for reimbursement by…

IT Judgement

AO/TPO is directed to re-compute the ALP after excluding the six comparables.

6 years ago

AO/TPO is directed to re-compute the ALP after excluding the six comparables. IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH…

IT Judgement

Cash deposited in the bank account out of the cash withdrawan earlier can not be treated as income without proving that such cash withdrawal was utilized for any other purpose: Indore ITAT

6 years ago

Cash deposited in the bank account out of the cash withdrawan earlier can not be treated as income without proving…

IT Judgement

Bogus LTCG Case: Since assessee had filed all relevant documents in relation to LTCG which reflected occurrence of transaction of sale of shares in normal course on platform of stock exchange, Revision u/s 263 is not unjustified.

6 years ago

Bogus LTCG Case: Since assessee had filed all relevant documents in relation to LTCG which reflected occurrence of transaction of…

IT Judgement

Validity of addition due to difference in opening vs. closing cash balance

6 years ago

Validity of addition due to difference in opening vs. closing cash balance short overview : After considering audited balance-sheet, opening cash…

IT Judgement

Provision for post-retirement medical benefit of employees, though contingent in nature, is an allowable expenditure

6 years ago

Provision for post-retirement medical benefit of employees, though contingent in nature, is an allowable expenditure short overview : Provision for post-retirement…

Income Tax IT Judgement

Amount received on relinquishing the secretaryship of educational society is not a capital receipt

6 years ago

Amount received on relinquishing the secretaryship of educational society is not a capital receipt Case in brief : The appellant…

Income Tax IT Judgement

If Assessee could not establish genuineness of the expenses, AO is justified in rejecting books of accounts & computing income on estimate basis

6 years ago

If Assessee could not establish genuineness of the expenses, AO is justified in rejecting books of accounts & computing income…

IT Judgement

GST: Allow ability of Input tax credit on detachable Engineered Wood with Oak Wooden Flooring capitalised as furniture and fixture

6 years ago

GST: Allow ability of Input tax credit on detachable Engineered Wood with Oak Wooden Flooring capitalised as furniture and fixture…

IT Judgement

Deeming fiction of section 50C cannot be considered for purpose of exemption under section 54EC

6 years ago

Deeming fiction of section 50C cannot be considered for purpose of exemption under section 54EC Nila V.Shah vs CIT Mumbai…

IT Judgement

Allowability of depreciation if car is purchased by firm in the name of one of its partner

6 years ago

Allowability of depreciation if car is purchased by firm in the name of one of its partner short overview :…

IT Judgement

Rajasthan HC taking serious view against order passed by AO despite its instructions to keep it on hold

6 years ago

Rajasthan HC taking serious view against order passed by AO despite its instructions to keep it on hold HC Stay…

IT Judgement

Whether the CIT was justified in invoking revisionary jurisdiction u/s 263 of the Act

6 years ago

Whether the CIT was justified in invoking revisionary jurisdiction u/s 263 of the Act Direct Media Distribution … vs Pr.Cit…

IT Judgement

Re-opening of assessment is not permissible for mere verification or for fishing inquiry

6 years ago

Re-opening of assessment is not permissible for mere verification or for fishing inquiry short overview : Re-assessment even if in case…

IT Judgement

TDS Default : Provisions of section 271C are applicable for not only failure to deduct tax but also failure to remit tax deducted to Government account.

6 years ago

TDS Default : Provisions of section 271C are applicable for not only failure to deduct tax but also failure to…

IT Judgement

Landmark Judgment : Booking of bare shell of a flat was a case of construction of house property and not purchase – Capital Gain exemption if construction completed within 3 years

Landmark Judgment : Shortfall in deduction of TDS don’t attract disallowance u/s 40(a)(ia)

Applying the definition of benami property and benami transaction the Central government could not, on the basis of the 2016 amendment allege contravention and start the prosecution in respect of a transaction in 2011.

Whether the Tribunal was right in holding that the income would crystallize on approval of assessee’s claim for reimbursement by competent authority while dealing with the issue of reimbursement

AO/TPO is directed to re-compute the ALP after excluding the six comparables.

Cash deposited in the bank account out of the cash withdrawan earlier can not be treated as income without proving that such cash withdrawal was utilized for any other purpose: Indore ITAT

Bogus LTCG Case: Since assessee had filed all relevant documents in relation to LTCG which reflected occurrence of transaction of sale of shares in normal course on platform of stock exchange, Revision u/s 263 is not unjustified.

Validity of addition due to difference in opening vs. closing cash balance

Provision for post-retirement medical benefit of employees, though contingent in nature, is an allowable expenditure

Amount received on relinquishing the secretaryship of educational society is not a capital receipt

If Assessee could not establish genuineness of the expenses, AO is justified in rejecting books of accounts & computing income on estimate basis

GST: Allow ability of Input tax credit on detachable Engineered Wood with Oak Wooden Flooring capitalised as furniture and fixture

Deeming fiction of section 50C cannot be considered for purpose of exemption under section 54EC

Allowability of depreciation if car is purchased by firm in the name of one of its partner

Rajasthan HC taking serious view against order passed by AO despite its instructions to keep it on hold

Whether the CIT was justified in invoking revisionary jurisdiction u/s 263 of the Act

Re-opening of assessment is not permissible for mere verification or for fishing inquiry

TDS Default : Provisions of section 271C are applicable for not only failure to deduct tax but also failure to remit tax deducted to Government account.

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