IT Judgement

Bogus LTCG: Jump in the share price of a company of unknown credentials cannot be an accident or windfall but is possible because of manipulations in a pre-planned manner by interested broker and entry operators

7 years ago

Bogus LTCG: Jump in the share price of a company of unknown credentials cannot be an accident or windfall but…

IT Judgement

Partial Ownership Cannot be Considered ‘one ‘ for Disallowing

7 years ago

Partial Ownership Cannot be Considered ‘one ‘ for Disallowing Ashok G. Chauhan v. ACIT ITA No. 1309/MUM/2016 dt. 12/04/2019 (Mum)…

IT Judgement

Whether taxpayer eligible for Interest under section 244A(1) on refund of excess self-assessment tax paid than tax due?

7 years ago

Whether taxpayer eligible for Interest under section 244A(1) on refund of excess self-assessment tax paid than tax due? Short overview…

IT Judgement

Search warrant is invalid if provisions of section 132 not attracted; HC quashes search proceedings

7 years ago

Search warrant is invalid if provisions of section 132 not attracted; HC quashes search proceedings 2019] 105 taxmann.com 260 (Gujarat), Laljibhai…

Article Income Tax IT Judgement Latest Update Tax Planning

No additon towards higher share premium sustainable – valuation certificate prescribes only minimum sum to be collected : Mumbai ITAT

7 years ago

No additon towards higher share premium sustainable – valuation certificate prescribes only minimum sum to be collected : Mumbai ITAT…

Article Income Tax IT Judgement Latest Update

Exemption u/s 54F if Process of purchasing plot or constructing house started within a reasonable time prior to the date of transfer of original asset

7 years ago

Exemption u/s 54F if Process of purchasing plot or constructing house started within a reasonable time prior to the date of…

Income Tax IT Judgement Tax Planning

Capital gain liability on Leasehold rights in a plot granted as compensation in pursuance of compulsory acquisition of agricultural land belonging to assessee’s deceased father

7 years ago

Capital gain liability on Leasehold rights in a plot granted as compensation in pursuance of compulsory acquisition of agricultural land…

IT Judgement

Bogus purchases – Addition of entire amount of purchase or amount of GP only is acceptable ?

7 years ago

Bogus purchases – Addition of entire amount of purchase or amount of GP only is acceptable ? Overview in short…

IT Judgement

No bar on collecting higher share premium as valuation certificate prescribes only minimum sum to be collected

7 years ago

No bar on collecting higher share premium as valuation certificate prescribes only minimum sum to be collected IT: Where AO…

IT Judgement

Landmark Judgement in favor of Revenue : Delay in filing TDS return continued beyond 1-6-2015 – Late fee u/s 234E applicable

7 years ago

Landmark Judgement in favor of Revenue : Delay in filing TDS return continued beyond 1-6-2015 – Late fee u/s 234E…

IT Judgement

spontaneous growth such as wild growth of trees in a forests do not constitute agricultural activity.: SC

7 years ago

spontaneous growth such as wild growth of trees in a forests do not constitute agricultural activity.: SC The Commissioner…

IT Judgement

“Had there not been survey, the assessee would not have offered such undisclosed income, penalty under section 271(1)(c) was correctly levied by AO. ” RAJKOT ITAT

7 years ago

“Had there not been survey, the assessee would not have offered such undisclosed income, penalty under section 271(1)(c) was correctly…

IT Judgement

Validity of disallowance of Expenditure against exempt income on conversion of shares held as opening stock to investments by assessee

7 years ago

Validity of disallowance of Expenditure against exempt income on conversion of shares held as opening stock to investments by assessee…

IT Judgement

Validity of Addition towards share premiumt On the ground that the company could not command huge share premium

7 years ago

Validity of Addition towards share premiumt On the ground that the company could not command huge share premium Overview: Once…

IT Judgement

Beneficial judgement for taxpayers : Reassessment merely on the basis of Information emanated from investigation wing without application of mind is void

7 years ago

Beneficial judgement for taxpayers : Reassessment merely on the basis of Information emanated from investigation wing without application of mind…

IT Judgement

Loss in share trading couldn’t be disallowed alleging it bogus if transactions were carried on stock exchange

7 years ago

Loss in share trading couldn’t be disallowed alleging it bogus if transactions were carried on stock exchange IT: Where transactions…

IT Judgement

Disallowance under section – AO directed to consider only those investments which had yielded exempt income during the year.

7 years ago

Disallowance under section – AO directed to consider only those investments which had yielded exempt income during the year. Overview…

IT Judgement

Agricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is granted and the land is put to non-agricultural use by the purchaser

7 years ago

Agricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is…

IT Judgement

Bogus LTCG: Jump in the share price of a company of unknown credentials cannot be an accident or windfall but is possible because of manipulations in a pre-planned manner by interested broker and entry operators

Partial Ownership Cannot be Considered ‘one ‘ for Disallowing

Whether taxpayer eligible for Interest under section 244A(1) on refund of excess self-assessment tax paid than tax due?

Search warrant is invalid if provisions of section 132 not attracted; HC quashes search proceedings

No additon towards higher share premium sustainable – valuation certificate prescribes only minimum sum to be collected : Mumbai ITAT

Exemption u/s 54F if Process of purchasing plot or constructing house started within a reasonable time prior to the date of transfer of original asset

Capital gain liability on Leasehold rights in a plot granted as compensation in pursuance of compulsory acquisition of agricultural land belonging to assessee’s deceased father

Bogus purchases – Addition of entire amount of purchase or amount of GP only is acceptable ?

No bar on collecting higher share premium as valuation certificate prescribes only minimum sum to be collected

Landmark Judgement in favor of Revenue : Delay in filing TDS return continued beyond 1-6-2015 – Late fee u/s 234E applicable

spontaneous growth such as wild growth of trees in a forests do not constitute agricultural activity.: SC

“Had there not been survey, the assessee would not have offered such undisclosed income, penalty under section 271(1)(c) was correctly levied by AO. ” RAJKOT ITAT

Validity of disallowance of Expenditure against exempt income on conversion of shares held as opening stock to investments by assessee

Validity of Addition towards share premiumt On the ground that the company could not command huge share premium

Beneficial judgement for taxpayers : Reassessment merely on the basis of Information emanated from investigation wing without application of mind is void

Loss in share trading couldn’t be disallowed alleging it bogus if transactions were carried on stock exchange

Disallowance under section – AO directed to consider only those investments which had yielded exempt income during the year.

Agricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is granted and the land is put to non-agricultural use by the purchaser

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