Addition under section 68 & Receipt of share application money from non-resident
Addition under section 68 & Receipt of share application money from non-resident Assessee received share application money from non-resident. AO…
Income Tax
Whether interest is chargeable on gross tax liability or on net tax liability after set-off of input tax credit?
Whether interest is chargeable on gross tax liability or on net tax liability after set-off of input tax credit? 2019…
Gujarat HC in case of Anilukmar Gopikishan Agrawal rules that the 2015 amendment to Sec. 153C is prospective and not retrospective
Gujarat HC in case of Anilukmar Gopikishan Agrawal rules that the 2015 amendment to Sec. 153C is prospective and not…
Charitable trust registration under section 12A & Condonation of delay in filing of application
Charitable trust registration under section 12A & Condonation of delay in filing of application Assessee-trust sought condonation of delay in…
Anti-Profiteering clause & Charging more price than what could have been charged by issuing wrong tax invoices vs. Constitutional validity thereof
Anti-Profiteering clause & Charging more price than what could have been charged by issuing wrong tax invoices vs. Constitutional validity…
In absence of any investigation, much less gathering of evidence by the AO, an addition cannot be sustained merely based on inferences drawn by circumstance.
In absence of any investigation, much less gathering of evidence by the AO, an addition cannot be sustained merely based…
Invocation of rule 8D without recording satisfaction as to non-correctness of assessee’s claim of suo motu disallowance under section 14A is contravention of mandate laid down under section 14A(2)
Invocation of rule 8D without recording satisfaction as to non-correctness of assessee’s claim of suo motu disallowance under section 14A…
Addition made under section 68 could not be sustained if no opportunity had been allowed to assessee to cross-examine alleged entry operators.
Addition made under section 68 could not be sustained if no opportunity had been allowed to assessee to cross-examine alleged…
Section 45(3) is applicable only in case of transfer of a capital asset by a partner to a firm and not on transfer of stock
Section 45(3) is applicable only in case of transfer of a capital asset by a partner to a firm and…
ITR Alert: Income Tax Dept modifies Return Preparation Software and Schema and the same is available for filing now.
ITR Alert: Income Tax Dept modifies Return Preparation Software and Schema and the same is available for filing now.
So long as there is no change in ownership of the firm and its properties, for the simple reason that the partnership of the firm stood reconstituted, there is no transfer of capital assets.
So long as there is no change in ownership of the firm and its properties, for the simple reason that…
Amount received at the time of retirement from partnership firm after surrendering her right, title and interest, same was said to be received for consideration and, thus, same could not be taxable in hands of the assessee , as capital gains or income from other sources .
Amount received at the time of retirement from partnership firm after surrendering her right, title and interest, same was said…
The introduction of new partners to a partnership firm owning immovable assets and consequent reduction in the share ratio of present partners does not entail any relinquishment of their rights in the partnership property.
The introduction of new partners to a partnership firm owning immovable assets and consequent reduction in the share ratio of…
Revaluation of assets, admission of new partners and then retirement of old partners: Capital Gain Implications
Revaluation of assets, admission of new partners and then retirement of old partners: Capital Gain Implications Revaluation of assets, admission…
When order passed by AO is palpably bad in law and exceeds its jurisdiction, relegating a litigant to appeal remedy will be wholly futile
When order passed by AO is palpably bad in law and exceeds its jurisdiction, relegating a litigant to appeal remedy…
Interesting Judgement : if a taxpayer incurs expenditure in cash due to business expediency and is not accused of suppressing its income, then no addition can be done due for the lack of vouchers
Interesting Judgement : if a taxpayer incurs expenditure in cash due to business expediency and is not accused of suppressing…
Assignment of loan to third party – AO can’t invoke sec. 41(1) to tax surplus thereon
Assignment of loan to third party – AO can’t invoke sec. 41(1) to tax surplus thereon [2019] 106 taxmann.com 194 (Mumbai –…
Inheritance Tax – Are we ready
Inheritance Tax – Are we ready Rumours & Sentiments are high on the possible re-introduction of Inheritance Tax in the…
