IT JudgementThreshold limit u/s 194IA for TDS not to be checked with the Amount mentioned in sale deed vis a vis individual share of each co-owner23 Jan 20190Threshold limit u/s 194IA for TDS not to be checked with the Amount mentioned in sale deed vis a vis…
IT JudgementDelhi ITAT on penny stock – Order quashed for want of cross examination23 Jan 20190Delhi ITAT on penny stock – Order quashed for want of cross examination SMT. NIRMAL SHARMA, Vs. 516, EXPRESS TOWER,…
IT JudgementEven if no interest is earned on advances, interest genuinely paid on unsecured loans taken for business purpose could not be disallowed.22 Jan 20190Even if no interest is earned on advances, interest genuinely paid on unsecured loans taken for business purpose could not…
IT JudgementAdditional shares are allotted pro -rata to shareholders including assessee based on their existing shareholding not liable for taxation under section 56(2)(x).22 Jan 20190Ease of doing business is what is said by the politicians and is delivered by the Judiciary. Actually, it should…
IT JudgementShares issued below fair market value- No tax if issued on proportionate basis19 Jan 20190Shares issued below fair market value- No tax if issued on proportionate basis Presently section 56(2)(x) of the Income Tax…
IT JudgementAssessee is free to adopt the adopt a method of his choice to determine FMV of shares u/s 56(2)(viib)19 Jan 20190Assessee is free to adopt the adopt a method of his choice to determine FMV of shares u/s 56(2)(viib) DCIT…
IT JudgementPremium is abnormally high as per test of human probabilities is not sufficient for its taxation19 Jan 20190Premium is abnormally high as per test of human probabilities is not sufficient for its taxation An important judgement was…
IT JudgementNon availability of vendors at the given address does not make purchase as Bogus19 Jan 20190Non availability of vendors at the given address does not make purchase as Bogus Here is an important judgmeent by…
IT JudgementPower of Attorney which does not enable enjoyment of property does not result in a “transfer”. CBDT Circular No.495 dated 22.9.1987 reads more into s. 2(47)(vi) than warranted19 Jan 20190Power of Attorney which does not enable enjoyment of property does not result in a “transfer”. CBDT Circular No.495 dated…
IT JudgementDelay of 1163 days in filing the appeal due to languid and inane conduct of the assessee cannot be condoned as it would result in the limitation period becoming otiose 19 Jan 20190Delay of 1163 days in filing the appeal due to languid and inane conduct of the assessee cannot be condoned…
IT JudgementCases are to be decided by Court on legal principles and not on one’s own moral views19 Jan 20190Cases are to be decided by Court on legal principles and not on one’s own moral views “In our opinion,…
IT JudgementCompany Law: Highlights of Companies (Amendment) Ordinance 201919 Jan 20190Company Law: Highlights of Companies (Amendment) Ordinance 2019 Number of changes and amendment affecting almost every company is the part…
IT JudgementWithdrawal of appeal from ITAT & HC: Circular No. 3 of 201818 Jan 20190Withdrawal of appeal from ITAT & HC: Circular No. 3 of 2018
IT JudgementWomen Can Be Karta In a HUF Governed By Mitakshara Law: Delhi HC18 Jan 20190Women Can Be Karta In a HUF Governed By Mitakshara Law: Delhi HC The Hon’ble High Court of Delhi in…
IT Judgement153C case not covered by Explanation 5A to Section 271(1)(c): Bombay HC17 Jan 20190153C case not covered by Explanation 5A to Section 271(1)(c): Bombay HC 2019 (1) TMI 656 – BOMBAY HIGH…
IT JudgementS. 50C vs. 54F: If the assessee has invested the entire sale consideration in new house property, the capital gains are exempt u/s 54F.17 Jan 20190S. 50C vs. 54F: If the assessee has invested the entire sale consideration in new house property, the capital gains…
IT JudgementCommissioner Of Income Tax vs B. C. Srinivasa Setty (Supreme Court)17 Jan 20190Commissioner Of Income Tax vs B. C. Srinivasa Setty (Supreme Court) Supreme Court of India Commissioner Of Income Tax, ……
IT JudgementInteresting Judgement on Slump Sale17 Jan 20190Interesting Judgement on Slump Sale Transaction to be considered as slump sale, though no business liabilities were transferred on date…