Income Tax

A discretionary private trust is assessable as an “individual” and not as an “AOP” as”individual” includes group of individuals

6 years ago

A discretionary private trust is assessable as an “individual” and not as an “AOP” as “individual” includes group of individuals…

Income Tax

Inheritance of property by legal heir and rental income derived there-from: Whether Income of an AOP or Individual Income?

6 years ago

COMMISSIONER OF INCOME TAX vs. INDIRA BALKRISHNA SUPREME COURT OF INDIA S.K. Das, Kapur & Hidayatullah, JJ. Civil Appeals Nos.…

Income Tax

SC criticizes ICAI for adopting an “Hyper-Technical” Approach in its investigation of MAFs and submitting to the Court that though MAFs were involved in violating ethics and law, the MAFs were not amenable to ICAI’s disciplinary jurisdiction

6 years ago

SC criticizes ICAI for adopting an “Hyper-Technical” Approach in its investigation of MAFs and submitting to the Court that though…

Income Tax

ITAT slammed AO for invoking sec. 153A in absence of any incriminating material found during search

6 years ago

ITAT slammed AO for invoking sec. 153A in absence of any incriminating material found during search [2020] 114 taxmann.com 536 (Ranchi-Trib.) Where…

IT Judgement

Penny stock case dismissed by Ahmedabad Bench of ITAT

6 years ago

Penny stock case dismissed by Ahmedabad Bench of ITAT Bhagwatiben Vinodkumar Surani vs ITO.pdf Penny stock case dismissed by Ahmedabad…

Income Tax

In a Partnership firm of father and son, father has retiremd and son continues the firm as a proprietor without communicating the fact to the bank. AO want to assessee the income as income of firm and not of Individual partner.

6 years ago

In a Partnership firm of father and son, father has retiremd and son continues the firm as a proprietor without…

Income Tax

4 Person purchased land and sold part of it after construction. Whether its an income of an AOP or Individuals?

6 years ago

4 Person purchased land and sold part of it after construction. Whether its an income of an AOP or Individuals?…

Income Tax

Assessment and taxation of trust is always a matter of interesting issues. The taxation and assessment differs as the concept of “application” of income needs to be imported while making an assessment.

6 years ago

Assessment of Trust: Excess application (i.e., Deficit) in earlier years can be adjusted against income of subsequent years …

Income Tax

Where assessee-HUF consisted of only two coparceners, viz., Karta and his son, on Karta dying intestate, son’s share in HUF would become property of son’s HUF, and father’s share would come to son in his individual capacity and assessee-HUF would be taxable only in respect of half of properties acquired by HUF headed by Karta (father)

6 years ago

Where assessee-HUF consisted of only two coparceners, viz., Karta and his son, on Karta dying intestate, son’s share in…

IT Judgement

Timing of Taxation of Capital Gain: Assessee’s rights in the immovable property extinguished on the receipt of the last cheque

6 years ago

Timing of Taxation of Capital Gain: Assessee’s rights in the immovable property extinguished on the receipt of the last cheque…

Income Tax

Rent to Father – Not a Tax Evasion Tool : Mumbai ITAT

6 years ago

Rent to Father – Not a Tax Evasion Tool : Mumbai ITAT Here is a significant Ruling by ITAT Mumbai…

Income Tax

Validity of reassessment notice issued in the name of deceased assessee along with his legal heirs

6 years ago

Income Tax Act, 1961, Section 147 Reassessment—Notice—Validity—Notice issued in the name of deceased assessee along with his legal heirs Conclusion: Since…

Income Tax IT Judgement

Membership received from its own members came within the principle of mutuality. Once assessee is governed by principle of mutuality, even if there are difference class of members, some of whom are not entitled to vote, the club would not be cease to be governed by principle of mutuality.

6 years ago

Membership received from its own members came within the principle of mutuality. Once assessee is governed by principle of mutuality,…

Income Tax

Old Tax Regime Vs. New Tax Regime: Which one is better?

6 years ago

Old Tax Regime Vs. New Tax Regime: Which one is better? Union Budget 2020 has introduced a dual tax regime…

Income Tax

E- Invoicing under GST – Are you Ready?

6 years ago

E- Invoicing under GST – Are you Ready? The concept of e-Invoicing is going to be introduced under GST.…

Income Tax

Whether B2B transactions of tour operator also liable for TCS?

6 years ago

Whether B2B transactions of tour operator also liable for TCS? Query] Whether B2B transactions are also covered by the Tax…

Income Tax

Power of CIT appeal to admit additional evidence & existence of Reasonable cause

6 years ago

Income Tax Act, 1961, Section 251 Appeal [CIT (A)]—Powers—Admission of additional evidence—Reasonable cause Conclusion: As all the notices issued by the…

GST Income Tax

लग सकती है पेनल्टी अगर टैक्स इनवॉइस पे सिग्नेचर नही है तो !

6 years ago

लग सकती है पेनल्टी अगर टैक्स इनवॉइस पे सिग्नेचर नही है तो !

Income Tax

A discretionary private trust is assessable as an “individual” and not as an “AOP” as”individual” includes group of individuals

Inheritance of property by legal heir and rental income derived there-from: Whether Income of an AOP or Individual Income?

SC criticizes ICAI for adopting an “Hyper-Technical” Approach in its investigation of MAFs and submitting to the Court that though MAFs were involved in violating ethics and law, the MAFs were not amenable to ICAI’s disciplinary jurisdiction

ITAT slammed AO for invoking sec. 153A in absence of any incriminating material found during search

Penny stock case dismissed by Ahmedabad Bench of ITAT

In a Partnership firm of father and son, father has retiremd and son continues the firm as a proprietor without communicating the fact to the bank. AO want to assessee the income as income of firm and not of Individual partner.

4 Person purchased land and sold part of it after construction. Whether its an income of an AOP or Individuals?

Assessment and taxation of trust is always a matter of interesting issues. The taxation and assessment differs as the concept of “application” of income needs to be imported while making an assessment.

Timing of Taxation of Capital Gain: Assessee’s rights in the immovable property extinguished on the receipt of the last cheque

Rent to Father – Not a Tax Evasion Tool : Mumbai ITAT

Validity of reassessment notice issued in the name of deceased assessee along with his legal heirs

Membership received from its own members came within the principle of mutuality. Once assessee is governed by principle of mutuality, even if there are difference class of members, some of whom are not entitled to vote, the club would not be cease to be governed by principle of mutuality.

Old Tax Regime Vs. New Tax Regime: Which one is better?

E- Invoicing under GST – Are you Ready?

Whether B2B transactions of tour operator also liable for TCS?

Power of CIT appeal to admit additional evidence & existence of Reasonable cause

लग सकती है पेनल्टी अगर टैक्स इनवॉइस पे सिग्नेचर नही है तो !

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