NO Penalty under section 271(1)(c) if notice issued by AO without specifying grounds of penalty
NO Penalty under section 271(1)(c) if notice issued by AO without specifying grounds of penalty Short Overview : Where AO had…
IT Judgement
No TDS under section 194-IA if share of each co-owner of property was under threshold limit
No TDS under section 194-IA if share of each co-owner of property was under threshold limit Oxcia Enterprises (P.) Ltd.…
“ We express our pain and anxiety. The Tribunal ought not to have recorded any such concession on the part of the AR contrary to the written submissions”. Madras High Court
“ We express our pain and anxiety. The Tribunal ought not to have recorded any such concession on the part of…
Certain issues relating to filing of Forms ITR-5, ITR-6 and ITR-7 as clarified by CBDT
Certain issues relating to filing of Forms ITR-5, ITR-6 and ITR-7 as clarified by CBDT CBDT has vide Circular No.…
Amount received by the assessee from the HUF, being its member, is a capital receipt in his hands and is not exigible to income tax.
Amount received by the assessee from the HUF, being its member, is a capital receipt in his hands and is…
Order issued by GST Authority on seizure of goods, imposition of tax & penalty is appealable under GST: Karnataka HC
Order issued by GST Authority on seizure of goods, imposition of tax & penalty is appealable under GST: Karnataka HC…
Section 68 additions is correct if assessee failed to prove identity of share applicants
Section 68 additions is correct if assessee failed to prove identity of share applicants INCOME TAX : Where revenue authorities…
Landmark Judgement : Assessee could not be held liable for levy of late filing charges under section 234E for the period prior to June, 2015 in the absence of amendment to section 200A
Landmark Judgement : Assessee could not be held liable for levy of late filing charges under section 234E for the…
Higher stock shown to get higher cash credit limit from bank – Whether Addition for levy income Tax is sustainable ?
Higher stock shown to get higher cash credit limit from bank – Whether Addition for levy income Tax is sustainable…
Applicability of Penalty under section 271(1)(c) for discrepancy in Form 26AS and Form No. 16
Applicability of Penalty under section 271(1)(c) for discrepancy in Form 26AS and Form No. 16 Taking into account the amount…
Validity of search conducted by AO couldn’t be challenged for first time during appeal after 3 years of search
Validity of search conducted by AO couldn’t be challenged for first time during appeal after 3 years of search Rajan…
ITAT justified levy of sec. 234E fee in respect of each purchased flat as assessee failed to file Form 26QB
ITAT justified levy of sec. 234E fee in respect of each purchased flat as assessee failed to file Form 26QB…
Tribunal has no power to enhance the assessment in appeal
Tribunal has no power to enhance the assessment in appeal Supreme Court in MCORP Global (P) Ltd., Vs. Commissioner of…
No capital gain exemption if there is a lack of basic amenity or if there is just a temporary makeshift shelter/ superstructure of insignificant worth : Ahmedabad ITAT
No capital gain exemption if there is a lack of basic amenity or if there is just a temporary makeshift…
Order passed u/s 144C without intimating variations in income through draft assessment order set aside by ITAT
Order passed u/s 144C without intimating variations in income through draft assessment order set aside by ITAT INCOME TAX: An…
Expenses incurred after setting up of business but before the commencement of business are deductible as revenue expenses.
Expenses incurred after setting up of business but before the commencement of business are deductible as revenue expenses. Short Overview…
No books of accounts maintained – No Penalty under section 271B for Failure to get its audited
No books of accounts maintained – No Penalty under section 271B for Failure to get its audited Short Overview : When…
Additions upheld as assessee claimed TDS but didn’t offer corresponding income in ITR
Additions upheld as assessee claimed TDS but didn’t offer corresponding income in ITR INCOME TAX : Where assessee had claimed…
