Income Tax

IT Judgement

Landmark Judgment : If trust registration u/s 12A is denied, what could be brought to tax is the net income in the hands of assessee-trust and not the gross receipts.

6 years ago

Landmark Judgment : If trust registration u/s 12A is denied, what could be brought to tax is the net income…

IT Judgement

Landmark Observation : Transactions between relatives involving receipt of loan in cash may not in the nature of loans or deposits as envisaged in section 269SS – No Penalty u/s 271D

6 years ago

Landmark Observation : Transactions between relatives involving receipt of loan in cash may not in the nature of loans or…

Income Tax

Demonetisation cases and Addition by Income Tax Authorities on the basis of theory of ‘Human Probability Test’ under the Income Tax Act – 1961

6 years ago

Demonetisation cases and Addition by Income Tax Authorities on the basis of theory of ‘Human Probability Test’ under the Income…

Income Tax

No deduction u/s 80P if credit co-operative society is doing business with Nominal Members also – Supreme Court in The Citizen Cooperative Society vs Asst. Commissioner Of Income Tax

6 years ago

No deduction u/s 80P if credit co-operative society is doing business with Nominal Members also – Supreme Court in The…

IT Judgement

Whether the retrospective amendments to the definition of “royalty” in s. 9(1)(vi) of the Act can have bearing on the interpretation

6 years ago

Whether the retrospective amendments to the definition of “royalty” in s. 9(1)(vi) of the Act can have bearing on the…

IT Judgement

Allegation of the Assessing officer that the shares bought by the Assessee were sold at the price which is less than its cost

6 years ago

Allegation of the Assessing officer that the shares bought by the Assessee were sold at the price which is less…

IT Judgement

Reassessment proceedings initiated by issuance notice on the deceased assessee quashed for want of jurisdiction.

6 years ago

Reassessment proceedings initiated by issuance notice on the deceased assessee quashed for want of jurisdiction. Late Shri Bhura Ram (L/H…

Income Tax

Non-functioning of benches during Winter Vacation

6 years ago

Non-functioning of benches during Winter Vacation INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, MUMBAI December 05, 2019 There will be a…

Income Tax

CBDT Issues Guidelines for scrutiny of invalid returns selected through CASS Cycle 2018 – Reg.

6 years ago

CBDT Issues Guidelines for scrutiny of invalid returns selected through CASS Cycle 2018 – Reg. F. No. 225/333/2019/ITA-1I Government of…

IT Judgement

Allowability of deduction towards Sales promotion expenditure (Gift) by a pharmaceutical company

6 years ago

Allowability of deduction towards Sales promotion expenditure (Gift) by a pharmaceutical company short overview : In view of Circular issued by…

IT Judgement

Since regular assessment for the year under consideration remained unabated as on date of search, same could not be interfered with while framing assessment u/s153A in absence of incriminating material unearthed during search

6 years ago

Since regular assessment for the year under consideration remained unabated as on date of search, same could not be interfered…

IT Judgement

Levy & Rate of GST on supply of online educational journals and periodicals to educational institutions

6 years ago

Levy & Rate of GST on supply of online educational journals and periodicals to educational institutions IN THE AUTHORITY FOR…

IT Judgement

Whether issuance of notice under section 143(2) is necessary for completing assessment under section 153A?

6 years ago

Whether issuance of notice under section 143(2) is necessary for completing assessment under section 153A? short overview : Issuance of notice…

IT Judgement

Loss of stock on account of fire at business place & it’s Allowability if the records not available due to fire

6 years ago

Loss of stock on account of fire at business place & it’s Allowability if the records not available due to…

IT Judgement

Tribunal can direct for registration of a trust/institution without remanding matter to Commissioner as powers of Tribunal are co-extensive to that of Commissioner under section 12AA

6 years ago

Tribunal can direct for registration of a trust/institution without remanding matter to Commissioner as powers of Tribunal are co-extensive to…

IT Judgement

Where assessee had submitted purchase bills, transportation bills, confirmed copy of accounts and VAT Registration of sellers as also their Income-tax Return and payment was made through cheques, impugned purchases could not be disallowed

6 years ago

Where assessee had submitted purchase bills, transportation bills, confirmed copy of accounts and VAT Registration of sellers as also their…

Income Tax

Interesting case: Issue of Capital gain Exemption if Possession of plot could not be acquired due to developer’s failure

6 years ago

Interesting case: Issue of Capital gain Exemption if Possession of plot could not be acquired due to developer’s failure Varun…

Income Tax

Whether Co-owners of Property receiving rental income can be treated as AOP?

6 years ago

Whether Co-owners of Property receiving rental income can be treated as AOP? Conclusions : Co-owners having definite and ascertainable share…

Income Tax

Landmark Judgment : If trust registration u/s 12A is denied, what could be brought to tax is the net income in the hands of assessee-trust and not the gross receipts.

Landmark Observation : Transactions between relatives involving receipt of loan in cash may not in the nature of loans or deposits as envisaged in section 269SS – No Penalty u/s 271D

Demonetisation cases and Addition by Income Tax Authorities on the basis of theory of ‘Human Probability Test’ under the Income Tax Act – 1961

No deduction u/s 80P if credit co-operative society is doing business with Nominal Members also – Supreme Court in The Citizen Cooperative Society vs Asst. Commissioner Of Income Tax

Whether the retrospective amendments to the definition of “royalty” in s. 9(1)(vi) of the Act can have bearing on the interpretation

Allegation of the Assessing officer that the shares bought by the Assessee were sold at the price which is less than its cost

Reassessment proceedings initiated by issuance notice on the deceased assessee quashed for want of jurisdiction.

Non-functioning of benches during Winter Vacation

CBDT Issues Guidelines for scrutiny of invalid returns selected through CASS Cycle 2018 – Reg.

Allowability of deduction towards Sales promotion expenditure (Gift) by a pharmaceutical company

Since regular assessment for the year under consideration remained unabated as on date of search, same could not be interfered with while framing assessment u/s153A in absence of incriminating material unearthed during search

Levy & Rate of GST on supply of online educational journals and periodicals to educational institutions

Whether issuance of notice under section 143(2) is necessary for completing assessment under section 153A?

Loss of stock on account of fire at business place & it’s Allowability if the records not available due to fire

Tribunal can direct for registration of a trust/institution without remanding matter to Commissioner as powers of Tribunal are co-extensive to that of Commissioner under section 12AA

Where assessee had submitted purchase bills, transportation bills, confirmed copy of accounts and VAT Registration of sellers as also their Income-tax Return and payment was made through cheques, impugned purchases could not be disallowed

Interesting case: Issue of Capital gain Exemption if Possession of plot could not be acquired due to developer’s failure

Whether Co-owners of Property receiving rental income can be treated as AOP?

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