Practicing professionals are prohibited from acting as full time directors
Practicing professionals are prohibited from acting as full time directors Bombay High Court in its recent judgement in the case…
IT Judgement
Loan accepted in cash – Assessee was engaged in construction business and started from scratch and did not have financial capacity to undertake huge projects – No penalty attracted
Loan accepted in cash – Assessee was engaged in construction business and started from scratch and did not have financial…
AO need to consider the reply submitted by Assessee related to cash deposit for Reassessment: Gujarat HC
AO need to consider the reply submitted by Assessee related to cash deposit for Reassessment: Gujarat HC Hemant…
Assessing Officer has a legal obligation to implement the order of the ITAT strictly and such failure would result in the failure of justice: Karnataka HC
Assessing Officer has a legal obligation to implement the order of the ITAT strictly and such failure would result in…
Delhi HC imposes penalty on a company for filing various frivolous petitions against CA, CA Firms
Delhi HC imposes penalty on a company for filing various frivolous petitions against CA, CA Firms Wholesale Trading…
Whether a pre-shipment advance out of which cash/trade discount was deducted by foreign party as per written trade agreement, can be construed as ‘interest’ u/s 2(28)
Whether a pre-shipment advance out of which cash/trade discount was deducted by foreign party as per written trade agreement, can…
An interesting Judgment: “cost of the residential house so purchased” in s. 54 is not confined to the cost of civil construction but includes furniture and fixtures if they are an integral part of the purchase.
An interesting Judgment: “cost of the residential house so purchased” in s. 54 is not confined to the cost of civil…
Capital gain exemption: A property may have been purchased as areadymade unit but that does not restricts the buyer from incurring anybonafide construction expenditure on improvisation or supplementary work
Capital gain exemption: A property may have been purchased as a readymade unit but that does not restricts the buyer from…
The requirement in s. 54(2) that the capital gains should be deposited in the CGAS scheme is merely an enabling provision. Cpaital gain exemption admissible even if it is not done so.
The requirement in s. 54(2) that the capital gains should be deposited in the CGAS scheme is merely an enabling…
Whether capital gain exemption u/s 54 is available against unregistered agreement for purchase of property?
Whether capital gain exemption u/s 54 is available against unregistered agreement for purchase of property? Gautam Jhunjhunwala vs. ITO…
Strictures passed by Bombay HC against department for casual and careless representation despite huge revenue implications.
Strictures passed by Bombay HC against department for casual and careless representation despite huge revenue implications. CIT vs.…
Landmark Judgement : Construction of new residential building without approval of Municipal Council and capital gain exemption
Landmark Judgement : Construction of new residential building without approval of Municipal Council and capital gain exemption Short Overview: Where…
Validity of Penalty under section 271(1)(c) if Additional income declared in survey under section 133A is incorporated in ITR filed u/s 139
Validity of Penalty under section 271(1)(c) if Additional income declared in survey under section 133A is incorporated in ITR filed…
Disallowance under section 14A- whether interest expenses to be taken as net or gross amount ?
Disallowance under section 14A- whether interest expenses to be taken as net or gross amount ? Short Overview: Interest expenses…
Tribunal omission to consider the case laws – Whether Tribunal can recalled it’s order ?
Tribunal omission to consider the case laws – Whether Tribunal can recalled it’s order ? Short Overview: While passing order…
Delhi ITAT confirmed additions as assessee claimed TDS but didn’t offer corresponding income in ITR
Delhi ITAT confirmed additions as assessee claimed TDS but didn’t offer corresponding income in ITR INCOME TAX : Where assessee…
Based on 26AS alone no additions could be made.
Based on 26AS alone no additions could be made. Short Overview: Based on 26AS alone no additions could be made.…
Income from Business or Other Source of Fund is generated from business & sourced to FDRs
Income from Business or Other Source of Fund is generated from business & sourced to FDRs Short Overview: Although funds…
