No penalty if assessee was in bona fide belief that purchase of new property was within time limit
No penalty if assessee was in bona fide belief that purchase of new property was within time limit ITO v.…
IT Judgement
Validity of Penalty under section 271AAB—Leviability if no specific charge mentioned in notice initiating penalty proceedings
Validity of Penalty under section 271AAB—Leviability if no specific charge mentioned in notice initiating penalty proceedings Short Overview: Where notice…
Now, AP HC permits rectification of 3B filed !
Now, AP HC permits rectification of 3B filed ! Now, AP HC permits rectification of 3B filed !
Another Judgment : Holding period for computation of capital gain need to be considered from the date of allotment
Another Judgment : Holding period for computation of capital gain need to be considered from the date of allotment Short…
Reopening not valid if order for that assessment year is passed by Settlement Commission
Reopening not valid if order for that assessment year is passed by Settlement Commission INCOME TAX : Once an order…
Whether interest u/s 234B & 234C could be levied on income which arose from retrospective amendment?
Whether interest u/s 234B & 234C could be levied on income which arose from retrospective amendment? INCOME TAX: Where High…
Landmark Judgment in current scenario : ITAT granted registration u/s 12AA to trust formed to comply with CSR of its parent co.
Landmark Judgment in current scenario : ITAT granted registration u/s 12AA to trust formed to comply with CSR of its…
Value of taxable supply in transaction between distinct entities with same PAN
Value of taxable supply in transaction between distinct entities with same PAN 2019 TaxPub(GST) 0594 (AAR-Maha) IN THE AUTHORITY FOR…
Assessee engaged in building and leasing premises of special nature as per the requirements of clients is business income
Assessee engaged in building and leasing premises of special nature as per the requirements of clients is business income Short…
Taxation of alleged bogus long-term capital gain on sale of shares
Taxation of alleged bogus long-term capital gain on sale of shares Short Overview : Since transactions of purchase and sale…
Where share capital had been scrutinized and accepted by the revenue then holding the same share capital as unexplained in reassessment u/s 153A tantamounted to change of opinion not backed by any evidence and not legally sustainable
Where share capital had been scrutinized and accepted by the revenue then holding the same share capital as unexplained in…
Issue of shares at premium : AO is well within his rights to examine the methodology adopted by assessee and/or underlying assumptions and if he not satisfied, he could suggest necessary modifications/alternations on sound reasoning and rationale basis
Issue of shares at premium : AO is well within his rights to examine the methodology adopted by assessee and/or…
Benefit of accumulation not available to income assessed u/s 11(3)
Benefit of accumulation not available to income assessed u/s 11(3) Abheraj Baldota Foundation Vs DCIT Benefit of accumulation not available…
Case with wider Benefits : Offering scholarship for creating visibility in international arena is a revenue expenditure, allowable u/s 37(1).
Case with wider Benefits : Offering scholarship for creating visibility in international arena is a revenue expenditure, allowable u/s 37(1).…
Where Assessee inherits the property with any lease, lien, mortgage or any actionable claim, then payment made for the purpose of clearing of such actionable claims for perfecting the title is to be regarded as cost of acquisition u/s. 48.
Where Assessee inherits the property with any lease, lien, mortgage or any actionable claim, then payment made for the purpose…
Allotment date is relevant for reckoning assets as long term or short erm
Allotment date is relevant for reckoning assets as long term or short erm ITAT, New Delhi has observed that the…
Validity of reassessment notice u/s 148 against deceased assessee
Validity of reassessment notice u/s 148 against deceased assessee Short Overview : Notice issued under section 148 against deceased assessee was …
Section 50C which provides a safe harbour of 5% must be interpreted to apply since the insertion as it is curative
Section 50C which provides a safe harbour of 5% must be interpreted to apply since the insertion as it is…
