Income Tax

Assessee engaged in building and leasing premises of special nature as per the requirements of clients is business income

6 years ago

Assessee engaged in building and leasing premises of special nature as per the requirements of clients is business income Short…

IT Judgement

Taxation of alleged bogus long-term capital gain on sale of shares

6 years ago

Taxation of alleged bogus long-term capital gain on sale of shares Short Overview : Since transactions of purchase and sale…

Income Tax

CBDT Clarification on withdrawal of low tax effect cases in appeal

6 years ago

CBDT Clarification on withdrawal of low tax effect cases in appeal

Income Tax

Cost of acquisition and cost of improvement – As discussed by Supreme court in R. M. Arunachalam Etc. vs Commissioner Of Income Tax

6 years ago

Cost of acquisition and cost of improvement – As discussed by Supreme court in R. M. Arunachalam Etc. vs Commissioner…

IT Judgement

Where share capital had been scrutinized and accepted by the revenue then holding the same share capital as unexplained in reassessment u/s 153A tantamounted to change of opinion not backed by any evidence and not legally sustainable

6 years ago

Where share capital had been scrutinized and accepted by the revenue then holding the same share capital as unexplained in…

IT Judgement

Issue of shares at premium : AO is well within his rights to examine the methodology adopted by assessee and/or underlying assumptions and if he not satisfied, he could suggest necessary modifications/alternations on sound reasoning and rationale basis

6 years ago

Issue of shares at premium : AO is well within his rights to examine the methodology adopted by assessee and/or…

Income Tax

Capital gains exemption u/s 54F if superstructure is strictly not a residential house

6 years ago

Capital gains exemption u/s 54F if superstructure is strictly not a residential house Short Overview : It would be farfetched to…

IT Judgement

Benefit of accumulation not available to income assessed u/s 11(3)

6 years ago

Benefit of accumulation not available to income assessed u/s 11(3) Abheraj Baldota Foundation Vs DCIT Benefit of accumulation not available…

Income Tax

Politicians getting in favour of taxpayers ! Now, Ex CM of Maharashtra also requested for Date Extension

6 years ago

Politicians getting in favour of taxpayers ! Now, Ex CM of Maharashtra also requested for Date Extension

IT Judgement

Case with wider Benefits : Offering scholarship for creating visibility in international arena is a revenue expenditure, allowable u/s 37(1).

6 years ago

Case with wider Benefits : Offering scholarship for creating visibility in international arena is a revenue expenditure, allowable u/s 37(1).…

Income Tax

Blocking of Eway bill extended to 21st November 2019 vide notification No. 36/2019 Dated 20th August, 2019

6 years ago

Blocking of Eway bill extended to 21st November 2019 vide notification No. 36/2019 Dated 20th August, 2019

Income Tax

Right to obtain flat & capital gain taxation

6 years ago

Right to obtain flat & capital gain taxation Short Overview : Where assessee booked an appartment on 16-3-2005, making 5% payment…

Income Tax

Kudos to Various Association of Chartered Accountant !! Excellent representation to strengthen the Tax System !!

6 years ago

Kudos to Various Association of Chartered Accountant !! Excellent representation to strengthen the Tax System !! Representation to MOS FM…

Income Tax

Any addition if to be made to the tax declared, it should not be more than the peak credit in the bank account

6 years ago

Any addition if to be made to the tax declared, it should not be more than the peak credit in…

Income Tax

clarification by CBDT regarding amendment in Section 44AE of the Income Tax Act, 1961

6 years ago

clarification by CBDT regarding amendment in Section 44AE of the Income Tax Act, 1961 F.No.225/233/2019/ITA-II Government of India Ministry…

IT Judgement

Where Assessee inherits the property with any lease, lien, mortgage or any actionable claim, then payment made for the purpose of clearing of such actionable claims for perfecting the title is to be regarded as cost of acquisition u/s. 48.

6 years ago

Where Assessee inherits the property with any lease, lien, mortgage or any actionable claim, then payment made for the purpose…

IT Judgement

Allotment date is relevant for reckoning assets as long term or short erm

6 years ago

Allotment date is relevant for reckoning assets as long term or short erm ITAT, New Delhi has observed that the…

Income Tax

No Penalty for Inadvertent and Bonafide Error: Mumbai ITAT

6 years ago

No Penalty for Inadvertent and Bonafide Error: Mumbai ITAT Rasai Properties Pvt. Ltd. Vs DCIT (ITAT Mumbai) Appeal Number :…

Income Tax

Assessee engaged in building and leasing premises of special nature as per the requirements of clients is business income

Taxation of alleged bogus long-term capital gain on sale of shares

CBDT Clarification on withdrawal of low tax effect cases in appeal

Cost of acquisition and cost of improvement – As discussed by Supreme court in R. M. Arunachalam Etc. vs Commissioner Of Income Tax

Where share capital had been scrutinized and accepted by the revenue then holding the same share capital as unexplained in reassessment u/s 153A tantamounted to change of opinion not backed by any evidence and not legally sustainable

Issue of shares at premium : AO is well within his rights to examine the methodology adopted by assessee and/or underlying assumptions and if he not satisfied, he could suggest necessary modifications/alternations on sound reasoning and rationale basis

Capital gains exemption u/s 54F if superstructure is strictly not a residential house

Benefit of accumulation not available to income assessed u/s 11(3)

Politicians getting in favour of taxpayers ! Now, Ex CM of Maharashtra also requested for Date Extension

Case with wider Benefits : Offering scholarship for creating visibility in international arena is a revenue expenditure, allowable u/s 37(1).

Blocking of Eway bill extended to 21st November 2019 vide notification No. 36/2019 Dated 20th August, 2019

Right to obtain flat & capital gain taxation

Kudos to Various Association of Chartered Accountant !! Excellent representation to strengthen the Tax System !!

Any addition if to be made to the tax declared, it should not be more than the peak credit in the bank account

clarification by CBDT regarding amendment in Section 44AE of the Income Tax Act, 1961

Where Assessee inherits the property with any lease, lien, mortgage or any actionable claim, then payment made for the purpose of clearing of such actionable claims for perfecting the title is to be regarded as cost of acquisition u/s. 48.

Allotment date is relevant for reckoning assets as long term or short erm

No Penalty for Inadvertent and Bonafide Error: Mumbai ITAT

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