Assessee utilized net consideration to re-modify the new house : Whether Capital Gain Exemption would be available ?
Assessee utilized net consideration to re-modify the new house : Whether Capital Gain Exemption would be available ? Short Overview…
Income Tax
AO should assign reasons for grant of lower deduction certificate if assessee has applied for nil deduction certificate
AO should assign reasons for grant of lower deduction certificate if assessee has applied for nil deduction certificate Tata…
Validity of addition to income by estimation of profit at higher rate merely on basis of suspicion and conjectures, without rejection of books
Validity of addition to income by estimation of profit at higher rate merely on basis of suspicion and conjectures, without…
Capital gains: Stamp duty value as on date of agreement or as on date of registration is relevant for computing capital Gain amount ?
Capital gains: Stamp duty value as on date of agreement or as on date of registration is relevant for computing…
New Amendment in CSR Rules
New Amendment in CSR Rules CSR Rules Changes Major Impact. Corporate Social Responsibility aligned with social objective and exclusions prescribed.…
Would wealth tax be introduced in the budget??
Would wealth tax be introduced in the budget?? Tax Revenue is negative in the current fiscal. Indian Government is exploring…
Professional fees of director other than salary is taxable under RCM basis: AAAR Rajasthan
Professional fees of director other than salary is taxable under RCM basis: AAR Rajasthan Appellate Authority for Advance Rulings, Rajasthan…
If the own funds are sufficient to cover interest free advances, proportionate disallowance of interest is not warranted
If the own funds are sufficient to cover interest free advances, proportionate disallowance of interest is not warranted ITAT, Rajkot in…
CBDT Circular issued under section 119 of the IT Act is binding on the IT Authorities. AO’s jurisdiction is limited to the issue identified by the CASS in case of ‘Limited Scrutiny’ cases
CBDT Circular issued under section 119 of the IT Act is binding on the IT Authorities. AO’s jurisdiction is limited…
Failure to produce reconciliation difference in creditor’s account is liable for addition as undisclosed income u/s 68
Failure to produce reconciliation difference in creditor’s account is liable for addition as undisclosed income u/s 68 Short Overview Where there was…
Allowability of deduction if payments were not supported by the bills raised and only self-made vouchers were maintained by assessee.
Allowability of deduction if payments were not supported by the bills raised and only self-made vouchers were maintained by assessee.…
Capital gain on sum received by assessee pursuant to a Development Agreement & Refunded later on
Capital gain on sum received by assessee pursuant to a Development Agreement & Refunded later on Short Overview Where the…
Enhancement of assessment by CIT(A) on a new source of income could not be upheld
Enhancement of assessment by CIT(A) on a new source of income could not be upheld Short Overview : Enhancement of assessment…
Condonation of delay of 368 days in filing appeal before Tribunal: Documents misplaced by Staff
Condonation of delay of 368 days in filing appeal before Tribunal: Documents misplaced by Staff Short Overview : Since assessee was…
Validity of Penalty under section 271(1)(b) if Assessee did not comply with notice under section 142(1) but Assessment order was passed under section 143(3), and not under section 144
Validity of Penalty under section 271(1)(b) if Assessee did not comply with notice under section 142(1) but Assessment order was…
If no cash is involved in the transactions and transactions is done by way of journal entries then AO is not justified in making addition u/s 68
If no cash is involved in the transactions and transactions is done by way of journal entries then AO is…
Whether a lower rate of TCS is applicable on the tour operator & foreign remittances?
Whether a lower rate of TCS is applicable on the tour operator & foreign remittances? Opinion: The tour & travel…
Validity of Assessment if ‘limited scrutiny’ shifted to ‘complete scrutiny’ without Prior approval of Principal Commissioner/Commissioner
Validity of Assessment if ‘limited scrutiny’ shifted to ‘complete scrutiny’ without Prior approval of Principal Commissioner/Commissioner Short Overview : AO was…
