The provision of s. 68 does not provide that the business of the assessee must start and then after the addition u/s 68 can be made.
The provision of s. 68 does not provide that the business of the assessee must start and then after the…
IT Judgement
AO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees admits undisclosed income and specifies the manner in which such income has been derived.
AO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees…
Delay in issuance of completion certificate on account of time taken by competent authority & admissibility of duction under section 80-IB(10)
Overview: Where building/developing project was completed within the time framed provided under section 80-IB(10) and an application for issuance…
Interesting Case: Brokerage paid for arranging tenant is allowable expenditure?
Interesting Case: Brokerage paid for arranging tenant is allowable expenditure? Piccadily Holiday Resorts … vs Dcit on 21 April, 2005…
A well elaborated order by Kolkata ITAT – Loss on share trading couldn’t be disallowed alleging it as bogus if all transactions were carried on stock exchange
A well elaborated order by Kolkata ITAT – Loss on share trading couldn’t be disallowed alleging it as bogus if…
Cancellation of registration of charitable trust – Order passed by CIT(E) based on mere surmises and conjectures need to be set aside.
Cancellation of registration of charitable trust – Order passed by CIT(E) based on mere surmises and conjectures need to be…
Selling of own land after plotting it out in order to secure better price is not an adventure in the nature of trade or business
Selling of own land after plotting it out in order to secure better price is not an adventure in the…
Isolated activity could not come within the purview of adventure in the nature of trade and business.
Isolated activity could not come within the purview of adventure in the nature of trade and business. Dhirubhai Kanjibhai Patel,Huf,…
Section 276CC deals with failure to comply with the obligation under sections 139(1) or 142(1) or 148 of Income Tax Act. Disobedience of each said provision of law itself constitutes a distinct offence
Section 276CC deals with failure to comply with the obligation under sections 139(1) or 142(1) or 148 of Income Tax…
Addition under section 68 towards Unexplained cash credits
Addition under section 68 towards Unexplained cash credits Overview : Where assessee received loan amount and the loan amount was…
Penalty under section 271AAB on Filing of return declaring undisclosed income if there is a Delay in filing return income
Penalty under section 271AAB on Filing of return declaring undisclosed income if there is a Delay in filing return income…
Validity of Redemption fine and confiscation under section 130 without initiating any proceedings under section 129
Validity of Redemption fine and confiscation under section 130 without initiating any proceedings under section 129 2019 TaxPub(GST) 0330 (Guj-HC)…
Similar types of errors is being committed by the Assessing Officers either by deliberately or due to ‘Induced ignorance’. Jharkhand HC advised CITs to conduct orientation courses for AOs.
Similar types of errors is being committed by the Assessing Officers either by deliberately or due to ‘Induced ignorance’. Jharkhand…
No religion like “Hinduism” & worship of Hindu Gods is not “religious purpose” – Trust is eligible for 80G: Nagpur ITAT
No religion like “Hinduism” & worship of Hindu Gods is not “religious purpose” – Trust is eligible for 80G: Nagpur…
No penalty for cash loan as it was never the intention of the Legislature to punish a party involved in a genuine transaction: Bangalore ITAT
No penalty for cash loan as it was never the intention of the Legislature to punish a party involved in…
Section 40A(3) was attracted even in cases of payments by book adjustments ?
Section 40A(3) was attracted even in cases of payments by book adjustments ? Punjab-Haryana High Court Commissioner Of Income-Tax vs Kishan…
Failure to attach board report along with financial statement in annual filing is compoundable offence
Failure to attach board report along with financial statement in annual filing is compoundable offence CL: Where a company contravened…
If no interest was charged from debtors, whether Interest paid o creditors could be disallowed?
If no interest was charged from debtors, whether Interest paid o creditors could be disallowed? IT: Where assessee-company, trading in…
