Income Tax

Capital Gain on Conversion of partnership firm into company if the land is revalued before the conversion and the appreciation credited to the current account of partners

10 Jan 2020

Capital Gain on Conversion of partnership firm into company if the land is revalued before the conversion and the appreciation…

IT Judgement

Interesting Judgment: Cost of construction of the building on the LEASEHOLD Land is a Revenue expenditure or Capital expenditure?

10 Jan 2020

Interesting Judgment: Cost of construction of the building on the LEASEHOLD Land is a Revenue expenditure or Capital expenditure?…

IT Judgement

Assessment made in the name of non-existent company is invalid and unsustainable in the eye of law.

10 Jan 2020

Assessment made in the name of non-existent company is invalid and unsustainable in the eye of law. Short Overview The assessment…

Income Tax

CBDT Responding Proactively : Grants relaxation in eligibility conditions for filing of Income-tax Return Form-1 (Sahaj) and Form-4 (Sugam) for Assessment Year 2020-21

10 Jan 2020

CBDT Responding Proactively : Grants relaxation in eligibility conditions for filing of Income-tax Return Form-1 (Sahaj) and Form-4 (Sugam) for…

Notification

Auction for Sale (Re-issue) of Government Stock (GS)

9 Jan 2020

Auction for Sale (Re-issue) of Government Stock (GS) GSEC060120208F5AB6CEE1EB4AF5818F6B76FA613621

Income Tax

AO to delete the penalty levied u/s 271B of the Act for not furnishing the tax audit report as required u/s 44AB of the Act, due to technical reasons.

9 Jan 2020

AO to delete the penalty levied u/s 271B of the Act for not furnishing the tax audit report as required…

IT Judgement

Beneficial Judgment : Capital gains exemption admissible even if Execution of sale deed and possession got delayed beyond stipulated period

9 Jan 2020

Beneficial Judgment : Capital gains exemption admissible even if Execution of sale deed and possession got delayed beyond stipulated period…

IT Judgement

Invoking the provisions of section 263 of the Act and passing the order without making necessary enquiries and investigations

9 Jan 2020

Invoking the provisions of section 263 of the Act and passing the order without making necessary enquiries and investigations M/S.…

Income Tax

GST Returns to be simplified. Even Businessmen can file it without approaching their consultant

9 Jan 2020

GST Returns to be simplified. Even Businessmen can file it without approaching their consultant

IT Judgement

Advances received by assessee & adjusted against the sales made to the concerned parties could not be treated as unexplained cash credit under section 68

8 Jan 2020

Advances received by assessee & adjusted against the sales made to the concerned parties could not be treated as unexplained…

IT Judgement

Set-off and carry forward accumulated loss and unabsorbed depreciation relating to amalgamating company & Condition of minimum level of production

8 Jan 2020

Set-off and carry forward accumulated loss and unabsorbed depreciation relating to amalgamating company & Condition of minimum level of production…

IT Judgement

Landmark judgment on admissibility if Capital gains upon Construction of residential house over leasehold Land

8 Jan 2020

Landmark judgment on admissibility if Capital gains upon Construction of residential house over leasehold Land short overview : Requirement of section…

IT Judgement

Non-compete fees by a non-resident company having no permanent establishment in India was not liable to tax

8 Jan 2020

Non-compete fees by a non-resident company having no permanent establishment in India was not liable to tax Income Tax Officer (It)-4(1)(1),…

IT Judgement

Setting-up of data centre facilities amounts to works contract?

8 Jan 2020

Setting-up of data centre facilities amounts to works contract? 2019 TaxPub(GST) 1356 (AAR-Karn) IN THE AUTHORITY FOR ADVANCE RULING, KARNATAKA…

IT Judgement

No penalty u/s 271(1)(c) for Bonafide Mistake

8 Jan 2020

No penalty u/s 271(1)(c) for Bonafide Mistake Harish Kumar (HUF) v. Dy. CIT Decision: In assessee’s favour. Penalty under…

Notification

The Institute of Chartered Accountants of India ( ICAI ) announces the dates of results of CA Final Exams (Old Course & New Course)

8 Jan 2020

The Institute of Chartered Accountants of India ( ICAI ) announces the dates of results of CA Final Exams (Old…

Income Tax

If property is not legally occupiable and not occupied then assessee could not be made liable to pay tax on notional rental income

8 Jan 2020

If property is not legally occupiable and not occupied then assessee could not be made liable to pay tax on…

IT Judgement

Landmark Judgment : Addition on non-CASS issues is NOT sustainable if AO has not obtained approval from Pr. CIT/CIT for COMPLETE scrutiny

7 Jan 2020

Landmark Judgment : Addition on non-CASS issues is NOT sustainable if AO has not obtained approval from Pr. CIT/CIT for…

Income Tax

Capital Gain on Conversion of partnership firm into company if the land is revalued before the conversion and the appreciation credited to the current account of partners

Interesting Judgment: Cost of construction of the building on the LEASEHOLD Land is a Revenue expenditure or Capital expenditure?

Assessment made in the name of non-existent company is invalid and unsustainable in the eye of law.

CBDT Responding Proactively : Grants relaxation in eligibility conditions for filing of Income-tax Return Form-1 (Sahaj) and Form-4 (Sugam) for Assessment Year 2020-21

Auction for Sale (Re-issue) of Government Stock (GS)

AO to delete the penalty levied u/s 271B of the Act for not furnishing the tax audit report as required u/s 44AB of the Act, due to technical reasons.

Beneficial Judgment : Capital gains exemption admissible even if Execution of sale deed and possession got delayed beyond stipulated period

Invoking the provisions of section 263 of the Act and passing the order without making necessary enquiries and investigations

GST Returns to be simplified. Even Businessmen can file it without approaching their consultant

Advances received by assessee & adjusted against the sales made to the concerned parties could not be treated as unexplained cash credit under section 68

Set-off and carry forward accumulated loss and unabsorbed depreciation relating to amalgamating company & Condition of minimum level of production

Landmark judgment on admissibility if Capital gains upon Construction of residential house over leasehold Land

Non-compete fees by a non-resident company having no permanent establishment in India was not liable to tax

Setting-up of data centre facilities amounts to works contract?

No penalty u/s 271(1)(c) for Bonafide Mistake

The Institute of Chartered Accountants of India ( ICAI ) announces the dates of results of CA Final Exams (Old Course & New Course)

If property is not legally occupiable and not occupied then assessee could not be made liable to pay tax on notional rental income

Landmark Judgment : Addition on non-CASS issues is NOT sustainable if AO has not obtained approval from Pr. CIT/CIT for COMPLETE scrutiny

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