Income TaxRent received from letting of terrace of building is income from House property or Income from other sources6 years agoRent received from letting of terrace of building is income from House property or Income from other sources Overview: In…
IT JudgementDisallowance under section – AO directed to consider only those investments which had yielded exempt income during the year.6 years agoDisallowance under section – AO directed to consider only those investments which had yielded exempt income during the year. Overview…
IT JudgementAgricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is granted and the land is put to non-agricultural use by the purchaser6 years agoAgricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is…
IT JudgementThe provision of s. 68 does not provide that the business of the assessee must start and then after the addition u/s 68 can be made.6 years agoThe provision of s. 68 does not provide that the business of the assessee must start and then after the…
IT JudgementAO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees admits undisclosed income and specifies the manner in which such income has been derived.6 years agoAO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees…
Income TaxHC deleted sec. 69 additions as assessee duly explained source of advance rental income6 years agoHC deleted sec. 69 additions as assessee duly explained source of advance rental income [2019] 105 taxmann.com 229 (Kerala)/[2019] 412 ITR 199…
Income TaxLoss due to vacancy allowance is deductible even if the property remains vacant for the entire year – Vikas Kehav Garud Vs. ITO (2016) 71 Taxmann 214 (Pune ITAT)6 years agoLoss due to vacancy allowance is deductible even if the property remains vacant for the entire year – Vikas Kehav…
IT JudgementDelay in issuance of completion certificate on account of time taken by competent authority & admissibility of duction under section 80-IB(10)6 years agoOverview: Where building/developing project was completed within the time framed provided under section 80-IB(10) and an application for issuance…
IT JudgementInteresting Case: Brokerage paid for arranging tenant is allowable expenditure?6 years agoInteresting Case: Brokerage paid for arranging tenant is allowable expenditure? Piccadily Holiday Resorts … vs Dcit on 21 April, 2005…
IT JudgementA well elaborated order by Kolkata ITAT – Loss on share trading couldn’t be disallowed alleging it as bogus if all transactions were carried on stock exchange6 years agoA well elaborated order by Kolkata ITAT – Loss on share trading couldn’t be disallowed alleging it as bogus if…
IT JudgementCancellation of registration of charitable trust – Order passed by CIT(E) based on mere surmises and conjectures need to be set aside.6 years agoCancellation of registration of charitable trust – Order passed by CIT(E) based on mere surmises and conjectures need to be…
Income TaxHow to close the account opened under Capital Gain Deposit Account Scheme (CGDAS)?6 years agoHow to close the account opened under Capital Gain Deposit Account Scheme (CGDAS)? Query] I have deposited the amount…
IT JudgementSelling of own land after plotting it out in order to secure better price is not an adventure in the nature of trade or business6 years agoSelling of own land after plotting it out in order to secure better price is not an adventure in the…
IT JudgementIsolated activity could not come within the purview of adventure in the nature of trade and business.6 years agoIsolated activity could not come within the purview of adventure in the nature of trade and business. Dhirubhai Kanjibhai Patel,Huf,…
Income TaxConversion of agricultural land in to non agricultural land can be said to be a business activity?6 years agoConversion of agricultural land in to non agricultural land can be said to be a business activity? Ajitkumar T.Patel, Mehsana…
Income TaxAdditional reporting required to be done by the Auditors of Trust in Maharashtra6 years agoAdditional reporting required to be done by the Auditors of Trust in Maharashtra Now, an additional reporting is required to…
IT JudgementSection 276CC deals with failure to comply with the obligation under sections 139(1) or 142(1) or 148 of Income Tax Act. Disobedience of each said provision of law itself constitutes a distinct offence6 years agoSection 276CC deals with failure to comply with the obligation under sections 139(1) or 142(1) or 148 of Income Tax…
Income TaxBefore you begin Tax Audit for FY 2018-19, Know important points in Form No. 3CD6 years agoBefore you begin Tax Audit for FY 2018-19, Know important points in Form No. 3CD There are some of the…