Income Tax

IT Judgement

Since Assessee has not tendered cogent evidence to explain as to how the shares in an unknown company had jumped to an higher amount in no time – It needs to be treated as Bogus LTCG

7 years ago

Since Assessee has not tendered cogent evidence to explain as to how the shares in an unknown company had jumped…

IT Judgement

Where Assessee is continuously in the business of exploration and production of oil, expenditure incurred by it on abandoned project is in normal course of its business and such expenditure is allowable as revenue expenditure

7 years ago

Where Assessee is continuously in the business of exploration and production of oil, expenditure incurred by it on abandoned project…

IT Judgement

Providing hostel and transport facility to students was incidental to achieve object of providing education & so is not in the nature of business

7 years ago

Providing hostel and transport facility to students was incidental to achieve object of providing education & so is not in…

Income Tax

Another Bonanza in the PipeLine : Bank Loan for Paying dues under Sabka Vishwas – Legal Disputes Resolution Scheme ?

7 years ago

Another Bonanza in the PipeLine : Bank Loan for Paying dues under Sabka Vishwas – Legal Disputes Resolution Scheme ?

IT Judgement

Disallowance of Interest Expenses on the ground that the borrowed funds were used for acquiring Shares of group Companies.

7 years ago

Disallowance of Interest Expenses on the ground that the borrowed funds were used for acquiring Shares of group Companies. Macintosh…

Income Tax

All about FastTag – Mandatory from 15th December 2019

7 years ago

All about FastTag – Mandatory from 15th December 2019 FastTag is a new mode of collecting Toll Tax. It will…

IT Judgement

Whether any payment made for the purpose of Know-how acquired in process of manufacturing is a Revenue Expenditure or not ?

7 years ago

Whether any payment made for the purpose of Know-how acquired in process of manufacturing is a Revenue Expenditure or not…

IT Judgement

In order to reduce the profit Purchases were made at the higher rate and Sales were at the lower rates

7 years ago

In order to reduce the profit Purchases were made at the higher rate and Sales were at the lower rates…

Income Tax

CHARTERED ACCOUNTANTS and Advocates are just facilitators for Tax compliance and cannot be liable for prosecution without any corroborative evidence

7 years ago

CHARTERED ACCOUNTANTS and Advocates are just facilitators for Tax compliance and cannot be liable for prosecution without any corroborative evidence…

House propery Income Tax

Property used by the Assessee for the purpose of its business cannot be considered to be a vacant property as per section 23

7 years ago

Property used by the Assessee for the purpose of its business cannot be considered to be a vacant property as…

Income Tax

Assessment made by A.O by making addition on the aspects of labour charges and sundry creditors.

7 years ago

Assessment made by A.O by making addition on the aspects of labour charges and sundry creditors. M/S S.D. Traders vs…

IT Judgement

Interesting case beyond Normal Provision : Lease rentals agreed between the parties were so crafted that they substantially cover present fair value of equipment & cannot be allowed as Revenue expenditure

7 years ago

Interesting case beyond Normal Provision : Lease rentals agreed between the parties were so crafted that they substantially cover present…

IT Judgement

The claim for exemption cannot be said to have been established either on the principle of mutuality or on the principle of the absence of trade or profit motive

7 years ago

The claim for exemption cannot be said to have been established either on the principle of mutuality or on the…

Income Tax

Easy Guide to file Revised Income Tax Return

7 years ago

Easy Guide to file Revised Income Tax Return File_Revised_Return

IT Judgement

A Bank issuing a Guarantee is not concerned with the underlying contract between the parties to the contact.

7 years ago

A Bank issuing a Guarantee is not concerned with the underlying contract between the parties to the contact. State Of…

Income Tax

Whether the Keyman Insurance Proceed can be offered to taxation under the head “Capital Gain” – CA Naresh Jakhotia

7 years ago

Whether the Keyman Insurance Proceed can be offered to taxation under the head “Capital Gain” – CA Naresh Jakhotia If…

Income Tax

Important judgment: Whether Capital Gain Tax is applicable on the sale of the fixed assets by the Liquidator ?

7 years ago

Important judgment: Whether Capital Gain Tax is applicable on the sale of the fixed assets by the Liquidator ? Important…

Income Tax

UDIN is required to be quoted on ITR certified as “True Copy” along with comments on its authenticity and source

7 years ago

UDIN is required to be quoted on ITR certified as “True Copy” along with comments on its authenticity and source…

Income Tax

Since Assessee has not tendered cogent evidence to explain as to how the shares in an unknown company had jumped to an higher amount in no time – It needs to be treated as Bogus LTCG

Where Assessee is continuously in the business of exploration and production of oil, expenditure incurred by it on abandoned project is in normal course of its business and such expenditure is allowable as revenue expenditure

Providing hostel and transport facility to students was incidental to achieve object of providing education & so is not in the nature of business

Another Bonanza in the PipeLine : Bank Loan for Paying dues under Sabka Vishwas – Legal Disputes Resolution Scheme ?

Disallowance of Interest Expenses on the ground that the borrowed funds were used for acquiring Shares of group Companies.

All about FastTag – Mandatory from 15th December 2019

Whether any payment made for the purpose of Know-how acquired in process of manufacturing is a Revenue Expenditure or not ?

In order to reduce the profit Purchases were made at the higher rate and Sales were at the lower rates

CHARTERED ACCOUNTANTS and Advocates are just facilitators for Tax compliance and cannot be liable for prosecution without any corroborative evidence

Property used by the Assessee for the purpose of its business cannot be considered to be a vacant property as per section 23

Assessment made by A.O by making addition on the aspects of labour charges and sundry creditors.

Interesting case beyond Normal Provision : Lease rentals agreed between the parties were so crafted that they substantially cover present fair value of equipment & cannot be allowed as Revenue expenditure

The claim for exemption cannot be said to have been established either on the principle of mutuality or on the principle of the absence of trade or profit motive

Easy Guide to file Revised Income Tax Return

A Bank issuing a Guarantee is not concerned with the underlying contract between the parties to the contact.

Whether the Keyman Insurance Proceed can be offered to taxation under the head “Capital Gain” – CA Naresh Jakhotia

Important judgment: Whether Capital Gain Tax is applicable on the sale of the fixed assets by the Liquidator ?

UDIN is required to be quoted on ITR certified as “True Copy” along with comments on its authenticity and source

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