Income from sub-leasing is taxable as house property income though assessee isn’t real owner of premises
Income from sub-leasing is taxable as house property income though assessee isn’t real owner of premises Nahalchand Laloochand (P.) Ltd.…
Income Tax
Business deduction under section 36(1)(iii)—Interest on borrowed capital—Money advanced to piece workers who did no work during the year—Assessee having sufficient interest free funds
Business deduction under section 36(1)(iii)—Interest on borrowed capital—Money advanced to piece workers who did no work during the year—Assessee having…
Waiver of a loan can partake the nature of operational subsidy for levy of Income Tax ?
Waiver of a loan can partake the nature of operational subsidy for levy of Income Tax ? Essar Shipping Limited…
MSME: Classification of MSME, registration process and manner of calculation of investment in plant & machinery, turnover etc
MSME: Classification of MSME, registration process and manner of calculation of investment in plant & machinery, turnover etc MSME 26th…
Disallowance under section 14A if no exempt income earned
Disallowance under section 14A if no exempt income earned short Overviwe: Where assessee did not earn any tax-free income during the…
Agricultural income treatment if Assessee failed to prove agriculture activity
Agricultural income treatment if Assessee failed to prove agriculture activity short Overviwe: Where adangal village account with respect to cultivation…
Filing of income tax returns without payment of self-assessment tax : Penal provisions invocation
Filing of income tax returns without payment of self-assessment tax : Penal provisions invocation short Overviwe: If due to huge…
Exemption under section 10(23C)(vi) & existence of institution existing not solely for the purpose of education but for the purpose of profit
Exemption under section 10(23C)(vi) & existence of institution existing not solely for the purpose of education but for the purpose…
Whether revised return can be filed after intimation is issued u/s 143(1)(a)?
Whether revised return can be filed after intimation is issued u/s 143(1)(a)? It may be noted that Assessee isn’t precluded…
Education cess and Higher education cess allowable expenditure
Education cess and Higher education cess allowable expenditure IN THE HIGH COURT OF BOMBAY AT GOA TAX APPEAL NO.17 OF…
Time for filing of original as well as revised income-tax returns for 2018-19 extended to 31st July, 2020
Time for filing of original as well as revised income-tax returns for 2018-19 extended to 31st July, 2020 New circular…
Bar on Subsequent Application to Income Tax Settlement Commission: Conflict between Legislative Intention and Judicial View
Bar on Subsequent Application to Income Tax Settlement Commission: Conflict between Legislative Intention and Judicial View (CA. Mohit Gupta is…
Gift to unrelated person was not a normal human behavior : Merely because money had come through banking channels, genuineness of the transaction was not established.
Gift to unrelated person was not a normal human behavior : Merely because money had come through banking channels, genuineness…
No Revision under section 263 if AO had made specific enquiry into loan transactions of assessee based on the CASS parameter.
No Revision under section 263 if AO had made specific enquiry into loan transactions of assessee based on the CASS…
No concealment penalty just because claim of deduction of bad debts was found inadmissible
No concealment penalty just because claim of deduction of bad debts was found inadmissible Ventura Textiles Ltd. v. CIT –…
Income Tax Search and Seizure : Legality of Prior approval of Joint Commissioner for assessment in search cases under Section 153D of the Income Tax Act’1961
Income Tax Search and Seizure : Legality of Prior approval of Joint Commissioner for assessment in search cases under Section…
Sec. 115BBE couldn’t be applied through rectification if no sec. 69 additions were made during assessment
Sec. 115BBE couldn’t be applied through rectification if no sec. 69 additions were made during assessment ACIT v. Sudesh Kumar…
Bombay HC allows deduction of ‘Education Cess’ while computing income chargeable under PGBP
Bombay HC allows deduction of ‘Education Cess’ while computing income chargeable under PGBP Case: Sesa Goa Ltd. The issue before…
