Women Can Be Karta In a HUF Governed By Mitakshara Law: Delhi HC
Women Can Be Karta In a HUF Governed By Mitakshara Law: Delhi HC The Hon’ble High Court of Delhi in…
IT Judgement
153C case not covered by Explanation 5A to Section 271(1)(c): Bombay HC
153C case not covered by Explanation 5A to Section 271(1)(c): Bombay HC 2019 (1) TMI 656 – BOMBAY HIGH…
S. 50C vs. 54F: If the assessee has invested the entire sale consideration in new house property, the capital gains are exempt u/s 54F.
S. 50C vs. 54F: If the assessee has invested the entire sale consideration in new house property, the capital gains…
Commissioner Of Income Tax vs B. C. Srinivasa Setty (Supreme Court)
Commissioner Of Income Tax vs B. C. Srinivasa Setty (Supreme Court) Supreme Court of India Commissioner Of Income Tax, ……
Interesting Judgement on Slump Sale
Interesting Judgement on Slump Sale Transaction to be considered as slump sale, though no business liabilities were transferred on date…
Sale of Goods to duty free shops in India can not be treated as zero rated supply
Sale of Goods to duty free shops in India can not be treated as zero rated supply Conclusion: The…
Rayala Corporation Pvt. Ltd vs. ACIT (Supreme Court)
Rayala Corporation Pvt. Ltd vs. ACIT (Supreme Court) August 11, 2016 (Date of pronouncement) The assessee, a private…
No penalty can be levied u/s 271AAA if assessee was not asked to substantiate the income disclosed during search
No penalty can be levied u/s 271AAA if assessee was not asked to substantiate the income disclosed during search ACIT…
Benefit of vacancy allowance was available if assessee made appropriate efforts in letting out property: Delhi ITAT
Benefit of vacancy allowance was available if assessee made appropriate efforts in letting out property: Delhi ITAT Facts: a)…
Jackie Shroff eligible for deduction towards writeoff Loans to Wife is Business Loss: Mumbai ITAT
Jackie Shroff eligible for deduction towards writeoff Loans to Wife is Business Loss: Mumbai ITAT ‘Hero’ status remained that of…
Income is attached to any immovable property cannot be the sole factor for assessment of such income as income from property
Income is attached to any immovable property cannot be the sole factor for assessment of such income as income from…
Share allotment under ‘rights issue’ not taxable u/s. 56(2)(vii)(c) if shareholders were relatives : Visakhapatnam ITAT
Share allotment under ‘rights issue’ not taxable u/s. 56(2)(vii)(c) if shareholders were relatives : Visakhapatnam ITAT Facts: a) Assessee…
Conversion of stock-in-trade to investment- How to reckon holding period?
Conversion of stock-in-trade to investment- How to reckon holding period? There are occasion when the taxpayer converts their stock in…
Fanatastic analysis of Purposive interpretation, strict interpretation & ‘literal interpretation’, by Supreme court
Fanatastic analysis of Purposive interpretation, strict interpretation & ‘literal interpretation’, by Supreme court Here is an interesting judgment wherein entire…
Taxation of unsold flats of builder held as stock in trade
Taxation of unsold flats of builder held as stock in trade Taxation of unsold flat in the hands of the…
Merely holding shares for a short period will not convert capital gain into business income
Merely holding shares for a short period will not convert capital gain into business income Income from share investment is…
Export commission paid to NRI & Applicability of TDS Provision u/s 195
Export commission paid to NRI & Applicability of TDS Provision u/s 195 Export commission paid to NRI & Applicability…
No penalty leviable when the assessee had acted in terms of the law prevailing at the relevant point of time: Madras High Court
No penalty leviable when the assessee had acted in terms of the law prevailing at the relevant point of time:…
