The date of allotment can be considered as the date of purchase and for reckoning the assets as long term capital assets.
The date of allotment can be considered as the date of purchase and for reckoning the assets as long term…
Income Tax
Claim of loss not to be disallowed if the AO fails to detect any discrepancy in the documentary proofs furnished
Claim of loss not to be disallowed if the AO fails to detect any discrepancy in the documentary proofs furnished…
Not a fit case for invoking revisionary powers if the AO takes a particular view during assessment and also after due consideration of the Apex Court decisions
Shriniwas Engineering Auto Components Pvt Ltd Vs PR CIT Not a fit case for invoking revisionary powers if the AO…
Reopening of assessment after the expiry of 4 years of assessment, based on information from Investigation Wing without verifying the assessment records and without application of mind by AO to form a belief is correct
ACIT Vs Perfect Corporate Services Ltd Reopening of assessment after the expiry of 4 years of assessment, based on information…
No addition of unexplained cash credits u/s 68 can be made based on the statements recorded of third party during search and seizure without providing any opportunity to the assessee to cross examine the same –
Bhatia Diamonds Pvt Ltd Vs ITO No addition of unexplained cash credits u/s 68 can be made based on the…
And it is held that Refund cannot be adjusted against demand U/s 245 without intimation
Petitioner is a trust and has been granted certificate of registration by SEBI as Venture Capital Fund and hence eligible…
Penalty u/s 271(1)(c) dont gets automatically attracted, simply because assessee had not offered certain receipts to tax under bonafide belief that the same was not taxable
Penalty u/s 271(1)(c) dont gets automatically attracted, simply because assessee had not offered certain receipts to tax under bonafide belief…
SA701 ,“Communicating- Key Audit Matters in the Independent Auditor’s Report”
SA701 ,“Communicating- Key Audit Matters in the Independent Auditor’s Report” Applicability of SA 701 Communicating Key Audit Matters The applicability…
If stamp duty is more than the fair market value, reworking of LTCG without referring the matter to valuation officer by the AO is against the mandate of section 50C
If stamp duty is more than the fair market value, reworking of LTCG without referring the matter to valuation officer…
Landmark Judgement: Section 50C applicable even in respect of capital gain exemption u/s 54F
BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION IN THE HIGH COURT OF JUDICATURE AT B INCOME TAX APPEAL NO.981 OF 2016 Jagdish C.…
Even temporary transfer attracts capital gain
Even temporary transfer attracts capital gain RAJENDRA MINING SYNDICATE vs. COMMISSIONER OF INCOME TAX HIGH COURT OF ANDHRA PRADESH Chandra…
CBDT Action plans for the first Quarter of FY 2019-20 stipulates auction sale of 20% properties attached till 31.03.2019 per TRO
CBDT Action plans for the first Quartner of FY 2019-20 stipulates auction sale of 20% properties attached till 31.03.2019 per…
ITC on passenger vehicles shall be available when those are leased to vendors on rent.
ITC on passenger vehicles shall be available when those are leased to vendors on rent : AAR, Madhya Pradesh : (Narsimha…
Interesting case- If there is no incriminating material found during the course of search AO cannot make any addition on the basis of information called during assessment proceeding.
Interesting case- If there is no incriminating material found during the course of search AO cannot make any addition on…
Date of allotment is the date of purchase for capital gain computation & exemption: Mumbai ITAT
Any Land or Building sold after a holding period of more than 2 years is considered as Long Term Capital…
Forex fluctuation gains on loan taken for purchase of ships entitled to benefit of tonnage taxation scheme Inbox x
Forex fluctuation gains on loan taken for purchase of ships entitled to benefit of tonnage taxation scheme Principal Commissioner of…
Revisionary proceedings could be initiated by CIT if view taken by AO was clearly unsustainable in law
Revisionary proceedings could be initiated by CIT if view taken by AO was clearly unsustainable in law Assessing Officer accepted…
Know the Changes in Income Tax Form For AY 2019-20
1. If the taxpayer is a director in a company at any time during the tax year, following details need…
