Validity of disallowance of trading loss on sale of old stock
Validity of disallowance of trading loss on sale of old stock Overview : When the stock sold was very old,…
Income Tax
Landmark Judgement : Credit on input materials/services used for construction of shopping malls is available against CGST/OGST payable on rent – Orissa HC
Landmark Judgement : Credit on input materials/services used for construction of shopping malls is available against CGST/OGST payable on rent…
Capital gain exemption not restricted to construction expenditure which is incurred after the sale of original asset. Even amount paid towards structure purchased is eligible for exemption.
Capital gain exemption not restricted to construction expenditure which is incurred after the sale of original asset. Even amount paid…
Purchase and sale of property exceeding Rs. 1 Cr to be on hit list
Purchase and sale of property exceeding Rs. 1 Cr to be on hit list
CBDT Proposes to amend Trust Audit Report in Form No. 10B
CBDT Proposes to amend Trust Audit Report in Form No. 10B CBDT Proposes to amend Trust Audit Report in Form…
Promotion and posting of CCIT
Promotion and posting of CCIT Promotion and posting of CCIT
Unaccounted money allegedly claimed as exempted long-term capital gain & allowability thereof
Unaccounted money allegedly claimed as exempted long-term capital gain & allowability thereof Overview : Where assessee had sold the shares…
Interesting judgement : Serving of assessment order beyond limitation period is null and void
Interesting judgement : Serving of assessment order beyond limitation period is null and void Over view: Though assessment order was…
Eligibility to avail input tax credits – Landmark Judgement
Eligibility to avail input tax credits – Landmark Judgement A landmark judgement under the GST Law. It will will have…
Conditions on tax compliances of undisclosed foreign income and assets
BMA circular15_2015 Conditions on tax compliances of undisclosed foreign income and assets BMA circular15_2015 (1)_compressed (1)
Addition of premium amount cannot be made solely on the basis of valuation of loss-making company
Addition of premium amount cannot be made solely on the basis of valuation of loss-making company Conclusion: Addition of difference…
Section 142A: Reference of matter to DVO by AO for valuation of property is not mandatory
Section 142A: Reference of matter to DVO by AO for valuation of property is not mandatory Even after insertion of…
Be cautious : Exempt agricultural income can not be accepted in the absence of evidences regarding the performance of agricultural activity or expenditure or sale of the agriculture produce
Be cautious : Exempt agricultural income can not be accepted in the absence of evidences regarding the performance of agricultural activity…
Penalty u/s 271(1)(c) is to be imposed if the assessee’s disclosure is not voluntary but under compulsion and he fails to offer any explanation at the assessment stage or at the penalty proceedings
Penalty u/s 271(1)(c) is to be imposed if the assessee’s disclosure is not voluntary but under compulsion and he fails…
Assessee is liable for penalty u/s 271B if no reason is furnished in respect of any reasonable cause for not getting the accounts audited as required u/s 44AB
Assessee is liable for penalty u/s 271B if no reason is furnished in respect of any reasonable cause for not…
Trust is eligible for benefit u/s 11 when the activities of the trust are purely religious and spiritual in nature
Trust is eligible for benefit u/s 11 when the activities of the trust are purely religious and spiritual in nature ITO…
If a request for cross examination is made prior to completion of assessment then full opportunity must be afforded to the assessee
If a request for cross examination is made prior to completion of assessment then full opportunity must be afforded to…
Deduction towards Housing Loan Interest – Few interesting issues
Deduction towards Housing Loan Interest – Few interesting issues One of the biggest tax bonanzas for individual taxpayers is in…
