How to file of Statement of Financial Transactions (SFT)?
How to file of Statement of Financial Transactions (SFT)? One of the key compliance expected from specified taxpayer is filing…
Income Tax
REAL ESTATE INVESTMENT BACK TO LIFE
REAL ESTATE INVESTMENT BACK TO LIFE Developers can expect a 10-year tax holiday on profits earned from rental housing. …
Procedure of Additions / Assessments etc in Search and Seizure cases.
Procedure of Additions / Assessments etc in Search and Seizure cases. Issue has been aptly elaborated by Kolkata Tribunal in…
Provision for warranty is a contingent liability. Whether it is allowable as deduction
Provision for warranty is a contingent liability. Whether it is allowable as deduction Provision for warranty is a contingent liability.…
Assessment under section 153C when Documents seized not belonging to the assessee
Assessment under section 153C when Documents seized not belonging to the assessee Decision : In assessee’s favour. Relied: CIT v. M/s. Arpit…
No exempt Income = No disallowance u/s 14A
No exempt Income = No disallowance u/s 14A In absence of exempt income earned by assessee during the year under…
If not a continuous activity, sale of land can not be treated as business income
If not a continuous activity, sale of land can not be treated as business income An interesting case by P…
If any partner does not agree to sell a firm’s property, whether the same can be considered as an encumbrance for capital gain computation?
If any partner does not agree to sell a firm’s property, whether the same can be considered as an encumbrance…
Residential house purchased which consists of several independent units cannot be a results in denial of exemption u/s 54.
Residential house purchased which consists of several independent units cannot be a results in denial of exemption u/s 54. Here…
Second proviso to section 40(a)(ia) as introduced by Finance Act, 2012 with effect from 1-4-2013, being curative and declaratory in nature was applicable restrosepctively with effect from 1-4-2005, therefore, no disallowance could be made if contents of CA certificate were proved to be correct
Second proviso to section 40(a)(ia) as introduced by Finance Act, 2012 with effect from 1-4-2013, being curative and declaratory in…
Amount received on liquidation of shares held an ESOP is taxable as salary income or capital gain income ?
Amount received on liquidation of shares held an ESOP is taxable as salary income or capital gain income ? Where…
SLP dismissed by SC against HC’s order quashing reassessment as sufficient disclosure was made on receipt of Govt. subsidy
SLP dismissed by SC against HC’s order quashing reassessment as sufficient disclosure was made on receipt of Govt. subsidy …
Landmark Judgement : Property held Jointly can’t be held as owned by assessee while allowing sec. 54F relief: Mumbai ITAT
Landmark Judgement : Property held Jointly can’t be held as owned by assessee while allowing sec. 54F relief: Mumbai ITAT…
And Top FDI investment in India is from Tax Heaven Countries !!
And Top FDI investment in India is from Tax Heaven Countries !!
ICDS 2 requires Valuation of inventory after inclusive of taxes and duties. Ahmedabad ITAT ruled in favour of assessee where it is valued after exclusion.
ICDS 2 requires Valuation of inventory after inclusive of taxes and duties. Ahmedabad ITAT ruled in favour of assessee where…
Welcome Judgment: No denial to section 12AA registration for some vague reason
Welcome Judgment: No denial to section 12AA registration for some vague reason Very often, the registration application u/s 12AA of the…
Taxation on Sale of agricultural land after dividing the land in to plots
Taxation on Sale of agricultural land after dividing the land in to plots In the present case, Assessee has sold…
Investment of land & sale of land after plotting – whether Business Income or Capital Gain.
Investment of land & sale of land after plotting – whether Business Income or Capital Gain. Here is an interesting…
