Penalty u/s 271(1)(c) could not be levied on income declared in revised return filed suo motu under section 139(5)
Penalty u/s 271(1)(c) could not be levied on income declared in revised return filed suo motu under section 139(5) Overview:…
Income Tax
AO allows capital gain exemption on that part of construction expenditure which is incurred after the sale of original asset ignoring the amount of earlier structure purchased
AO allows capital gain exemption on that part of construction expenditure which is incurred after the sale of original asset…
ICAI’s Revised Code of Ethics 2019 Applicable w.e.f. 1 April, 2020
ICAI’s Revised Code of Ethics 2019* Applicable w.e.f. 1 April, 2020 Fundamental ethical principles requires that a CA firm should…
Officer conducting search has discretion not to seize even higher quantity of gold jewellery based on factors including family customs and traditions
Officer conducting search has discretion not to seize even higher quantity of gold jewellery based on factors including family customs…
An interesting judgment discussion tax implication of bogus purchase through Hawala Operator
An interesting judgment discussion tax implication of bogus purchase through Hawala Operator All these appeals arise out of common Judgment…
No disallowance on non-deduction of tax just because assessee didn’t furnish PAN of transporter to dept.
No disallowance on non-deduction of tax just because assessee didn’t furnish PAN of transporter to dept. [2019] 104 taxmann.com 336 (Jaipur –…
AO couldn’t change method of determining FMV of shares consistently accepted in prior years
AO couldn’t change method of determining FMV of shares consistently accepted in prior years AO couldn’t change method of determining…
Please Note, Section 80G approval couldn’t be denied just because there was possibility of misuse of donations.
Please Note, Section 80G approval couldn’t be denied just because there was possibility of misuse of donations. [2019] 105 taxmann.com 13 (Amritsar…
No capital gain tax on sum received by partners towards their share in assets on retirement from firm
No capital gain tax on sum received by partners towards their share in assets on retirement from firm No capital…
Where retiring partners were paid sums on reconstitution of assessee-partnership firm in proportion of their share
Whether standard deduction @ 30% of rental income can be allowed while computing income of a trust/institution claiming exemption u/s…
No capital gain tax on sum received by partners towards their share in assets on retirement from firm
No capital gain tax on sum received by partners towards their share in assets on retirement from firm Where retiring…
Gold Investment- Holding, Documentations & Precautions
Gold Investment- Holding, Documentations & Precautions Global demand for Gold is driven by Indians & their obsession Gold is known worldwide. Gold…
Dividend–Deemed dividend under section 2(22)(e) is not applicable on Inter-corporate deposit
Dividend–Deemed dividend under section 2(22)(e) is not applicable on Inter-corporate deposit Overview: Transaction of inter-corporate deposit could not be brought…
Validity of penalty imposed u/s 271AAA without making any addition to the returned income
Validity of penalty imposed u/s 271AAA without making any addition to the returned income Overview : Where assessee had surrendered…
Capital gains Exemption under sections 54 and 54EC if Husband and wife both claims co-ownership without legal ownershjp
Capital gains Exemption under sections 54 and 54EC if Husband and wife both claims co-ownership without legal ownershjp Overview: Mere…
New Facts about Business Connection
In order to align the domestic laws with the modifications being done by Organisation for Economic Co-operation and Development (OECD)…
