Income Tax

12 very senior officers of rank of Chief Commissioners, Principal Commissioners, Commissioners of Income Tax department given compulsorily retirement under Rule 56 by Finance Ministry

7 years ago

*12 very senior officers of rank of Chief Commissioners, Principal Commissioners, Commissioners of Income Tax department given compulsorily retirement under…

Income Tax

Modi Government started working again – 15 Commissioners compulsory retirement

7 years ago

Modi Government started working again – 15 Commissioners compulsory retirement

IT Judgement

Loss in share trading couldn’t be disallowed alleging it bogus if transactions were carried on stock exchange

7 years ago

Loss in share trading couldn’t be disallowed alleging it bogus if transactions were carried on stock exchange IT: Where transactions…

Income Tax

COMPARISON BETWEEN SECTION 112 AND SECTION 112A OF INCOME TAX ACT

7 years ago

COMPARISON BETWEEN SECTION 112 AND SECTION 112A OF INCOME TAX ACT Long term capital gains under these two sections cover:…

Income Tax

Rent received from letting of terrace of building is income from House property or Income from other sources

7 years ago

Rent received from letting of terrace of building is income from House property or Income from other sources Overview: In…

IT Judgement

Disallowance under section – AO directed to consider only those investments which had yielded exempt income during the year.

7 years ago

Disallowance under section – AO directed to consider only those investments which had yielded exempt income during the year. Overview…

IT Judgement

Agricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is granted and the land is put to non-agricultural use by the purchaser

7 years ago

Agricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is…

IT Judgement

The provision of s. 68 does not provide that the business of the assessee must start and then after the addition u/s 68 can be made.

7 years ago

The provision of s. 68 does not provide that the business of the assessee must start and then after the…

IT Judgement

AO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees admits undisclosed income and specifies the manner in which such income has been derived.

7 years ago

AO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees…

Income Tax

HC deleted sec. 69 additions as assessee duly explained source of advance rental income

7 years ago

HC deleted sec. 69 additions as assessee duly explained source of advance rental income [2019] 105 taxmann.com 229 (Kerala)/[2019] 412 ITR 199…

Income Tax

Loss due to vacancy allowance is deductible even if the property remains vacant for the entire year – Vikas Kehav Garud Vs. ITO (2016) 71 Taxmann 214 (Pune ITAT)

7 years ago

Loss due to vacancy allowance is deductible even if the property remains vacant for the entire year – Vikas Kehav…

IT Judgement

Delay in issuance of completion certificate on account of time taken by competent authority & admissibility of duction under section 80-IB(10)

7 years ago

Overview: Where building/developing project was completed within the time framed provided under section 80-IB(10) and an application for issuance…

IT Judgement

Interesting Case: Brokerage paid for arranging tenant is allowable expenditure?

7 years ago

Interesting Case: Brokerage paid for arranging tenant is allowable expenditure? Piccadily Holiday Resorts … vs Dcit on 21 April, 2005…

IT Judgement

A well elaborated order by Kolkata ITAT – Loss on share trading couldn’t be disallowed alleging it as bogus if all transactions were carried on stock exchange

7 years ago

A well elaborated order by Kolkata ITAT – Loss on share trading couldn’t be disallowed alleging it as bogus if…

IT Judgement

Cancellation of registration of charitable trust – Order passed by CIT(E) based on mere surmises and conjectures need to be set aside.

7 years ago

Cancellation of registration of charitable trust – Order passed by CIT(E) based on mere surmises and conjectures need to be…

Income Tax

How to close the account opened under Capital Gain Deposit Account Scheme (CGDAS)?

7 years ago

How to close the account opened under Capital Gain Deposit Account Scheme (CGDAS)? Query] I have deposited the amount…

IT Judgement

Selling of own land after plotting it out in order to secure better price is not an adventure in the nature of trade or business

7 years ago

Selling of own land after plotting it out in order to secure better price is not an adventure in the…

IT Judgement

Isolated activity could not come within the purview of adventure in the nature of trade and business.

7 years ago

Isolated activity could not come within the purview of adventure in the nature of trade and business. Dhirubhai Kanjibhai Patel,Huf,…

Income Tax

12 very senior officers of rank of Chief Commissioners, Principal Commissioners, Commissioners of Income Tax department given compulsorily retirement under Rule 56 by Finance Ministry

Modi Government started working again – 15 Commissioners compulsory retirement

Loss in share trading couldn’t be disallowed alleging it bogus if transactions were carried on stock exchange

COMPARISON BETWEEN SECTION 112 AND SECTION 112A OF INCOME TAX ACT

Rent received from letting of terrace of building is income from House property or Income from other sources

Disallowance under section – AO directed to consider only those investments which had yielded exempt income during the year.

Agricultural land at the date of the sale would continue to be agricultural land until permission for non-agricultural use is granted and the land is put to non-agricultural use by the purchaser

The provision of s. 68 does not provide that the business of the assessee must start and then after the addition u/s 68 can be made.

AO can impose penalty u/s 271AAB in case where a search is initiated u/s 132 and during such operation assessees admits undisclosed income and specifies the manner in which such income has been derived.

HC deleted sec. 69 additions as assessee duly explained source of advance rental income

Loss due to vacancy allowance is deductible even if the property remains vacant for the entire year – Vikas Kehav Garud Vs. ITO (2016) 71 Taxmann 214 (Pune ITAT)

Delay in issuance of completion certificate on account of time taken by competent authority & admissibility of duction under section 80-IB(10)

Interesting Case: Brokerage paid for arranging tenant is allowable expenditure?

A well elaborated order by Kolkata ITAT – Loss on share trading couldn’t be disallowed alleging it as bogus if all transactions were carried on stock exchange

Cancellation of registration of charitable trust – Order passed by CIT(E) based on mere surmises and conjectures need to be set aside.

How to close the account opened under Capital Gain Deposit Account Scheme (CGDAS)?

Selling of own land after plotting it out in order to secure better price is not an adventure in the nature of trade or business

Isolated activity could not come within the purview of adventure in the nature of trade and business.

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