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…
Income Tax
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)…
Fair Market Value of capital asset u/s 50C as per ‘Guidance Value’ being determined without hearing the objections of assessee is not proper
Fair Market Value of capital asset u/s 50C as per ‘Guidance Value’ being determined without hearing the objections of assessee…
AO is not obliged to grant deduction u/s 80P by merely looking at the certificate of registration
AO is not obliged to grant deduction u/s 80P by merely looking at the certificate of registration The Mavilayi Service…
Interesting case: Taxability of amount claimed to be received as nominee of deceased friend
Interesting case: Taxability of amount claimed to be received as nominee of deceased friend Short overview: Where assessee claimed amount…
No denial of sec. 54 exemption if delay in getting possession of flat was on account of builder
No denial of sec. 54 exemption if delay in getting possession of flat was on account of builder No denial…
The fact that the company is loss-making does not mean that shares cannot be allotted at premium.
The fact that the company is loss-making does not mean that shares cannot be allotted at premium. An interesting judgment…
High Court cannot hear the appeal bipartite without framing any substantial question of law.
High Court cannot hear the appeal bipartite without framing any substantial question of law. High Court cannot hear the appeal…
Even if the purchases are bogus, the entire purchase amount cannot be added: Bombay HC
Even if the purchases are bogus, the entire purchase amount cannot be added: Bombay HC Here is one judgment in…
Reopening of assessment is not valid if the Assessing officer was well aware of the facts. Whether assessee disclosed it or not is irrelevant.
Reopening of assessment is not valid if the Assessing officer was well aware of the facts. Whether assessee disclosed it…
Reopening of assessment is not valid if the Assessing officer was well aware of the facts. Whether assessee disclosed it or not is irrelevant.
Reopening of assessment is not valid if the Assessing officer was well aware of the facts. Whether assessee disclosed it…
Conversion of outstanding interest into loan does not amount to “actual payment” U/s 43B
Conversion of outstanding interest into loan does not amount to “actual payment” U/s 43B Section 43B grants deduction of certain…
Charity paid at the time of purchase cannot form the part of Purchase consideration: Supreme Court
Charity paid at the time of purchase cannot form the part of Purchase consideration: Supreme Court If an amount (Dharmada,…
Landmark & Chronicle Judgement Valuation of equity shares done bymerchant banker for issue of at premium without evidence furnished as to suitability of DCF method for valuation is not acceptable
Landmark & Chronicle Judgement Valuation of equity shares done bymerchant banker for issue of at premium without evidence furnished as…
Deduction towards cost of improvement in respect of construction if no supportive evidence available
Deduction towards cost of improvement in respect of construction if no supportive evidence available Short overview : As assessee failed…
New Clauses 31(ba) to (bd) inserted in Form 3CD
New Clauses 31(ba) to (bd) inserted in Form 3CD Details regarding newly inserted Clauses 31 (ba) to (bd) in Form…
Interesting case: Annual Maintenance Contract (AMC) expenditure of computer – Whether liable for TDS U/s 194C or section 194J ?
Interesting case: Annual Maintenance Contract (AMC) expenditure of computer – Whether liable for TDS U/s 194C or section 194J ?…
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