Mutual Agreement Procedure (MAP)
Mutual Agreement Procedure (MAP) Mutual Agreement Procedure (MAP)
Income Tax
Capital gains on Sale of business undertaking as a going concern: Section 50B & Slump Sale
Capital gains on Sale of business undertaking as a going concern: Section 50B & Slump Sale Short Overview Since industrial…
Taxation in case of Joint Development Agreement (JDA) u/s 45(5A): The Other Side
Taxation in case of Joint Development Agreement (JDA) u/s 45(5A): The Other Side Section 45 deals with capital gains wherein…
Validity of Reassessment when AO proceeded on the fallacious assumption that bank deposits constituted undisclosed income
Validity of Reassessment when AO proceeded on the fallacious assumption that bank deposits constituted undisclosed income Short Overview : The…
Can a single male constitute HUF?
Can a single male constitute HUF? One of the most common questions is whether a single member can make an HUF?…
Mere change of opinion and would be completely without jurisdiction under section 147: Supreme Court in ACIT vs. Marico Ltd
Mere change of opinion and would be completely without jurisdiction under section 147: Supreme Court in ACIT vs. Marico Ltd…
When there are only two partners and one has agreed to retire, then the retirement amounts to dissolution of the firm: Supreme Court
When there are only two partners and one has agreed to retire, then the retirement amounts to dissolution of the…
The compensation received for the loss of agency is a revenue receipt whereas the compensation attributable to a negative/ restrictive covenant is a capital receipt: Supreme Court
The compensation received for the loss of agency is a revenue receipt whereas the compensation attributable to a negative/ restrictive…
AOP is liable to tax at MMR if income of its members during relevant year exceeded basic exemption limit: Delhi ITAT
AOP is liable to tax at MMR if income of its members during relevant year exceeded basic exemption limit: Delhi…
If assessee trust had not defaulted in any of the limb of section 13, the exemption under section 11 could not be denied.
If assessee trust had not defaulted in any of the limb of section 13, the exemption under section 11 could…
Freebies to the doctors by pharmaceuticals companies are allowable as deduction: Mumbai ITAT
Freebies to the doctors by pharmaceuticals companies are allowable as deduction: Mumbai ITAT Freebies to the doctors are not permissible…
Conversion of Capital Assets in to Stock In Trade: Investment for the purpose of capital gain exemption can be done from the date of sale of Stock in Trade
Conversion of Capital Assets in to Stock In Trade: Investment for the purpose of capital gain exemption can be done…
All About Provision For Bad And Doubtful Debts In Respect Of Rural Advances Of Certain Banks: Section 36(1)(viia)
All About Provision For Bad And Doubtful Debts In Respect Of Rural Advances Of Certain Banks: Section 36(1)(viia) One section…
How to prepare GOA – SOF for Appeal to ITAT
How to prepare GOA – SOF for Appeal to ITAT Introduction An appeal is generally filed with ITAT in…
Amount withdrawn by legal heir from the Capital Gain Deposit Accounts Scheme-1988 (CGDAS) of the deceased is Tax Free
Amount withdrawn by legal heir from the Capital Gain Deposit Accounts Scheme-1988 (CGDAS) of the deceased is Tax Free Taxpayer…
Final view of Supreme on section 40(a)(ia): (a) Disallowance correct even if there is nothing “payable”. (b) Amendment by FA-2010 is not retrospective in nature (c) Amount disallowable even if contract is on freelance basis
Final view of Supreme on section 40(a)(ia): (a) Disallowance correct even if there is nothing “payable”. (b) Amendment by FA-2010…
Word “family” connotes a group of people-a single person, male or female, cannot not constitute a family.
Word “family” connotes a group of people-a single person, male or female, cannot not constitute a family. Often a…
Tax has to be levied on the right person, irrespective of benefit to Revenue: Supreme Court
Tax has to be levied on the right person, irrespective of benefit to Revenue: Supreme Court There are often the…
