IT Judgement

Cash deposits during the demonetization: If amount deposited is out of the sale proceeds, addition under section 68 of the Act that will amount to double taxation

16 Sep 2023

Cash deposits during the demonetization: If amount deposited is out of the sale proceeds, addition under section 68 of the…

Income Tax IT Judgement

Confiscated goods cannot be claimed as a trading loss incidental to business: SC

26 Apr 2023

Confiscated goods cannot be claimed as a trading loss incidental to business: SC The Commissioner of Income…

Income Tax IT Judgement

When the Assessing Officer has taken up the assessment for examination after three or four years from the relevant financial year, no material evidence may be available on the land to show that the assessee has cultivated as claimed. AO has to rely on other records: ITAT

20 Mar 2023

When the Assessing Officer has taken up the assessment for examination after three or four years from the relevant financial…

Income Tax IT Judgement

If one can conclude that there is no suppression in the value, question of invoking Section 50C does not arise.

27 Feb 2023

If one can conclude that there is no suppression in the value, question of invoking Section 50C does not arise.…

IT Judgement

Lower tax rate u/s 115BAA can’t be availed if Form 10-IC wasn’t filed by extended deadline: ITAT

16 Feb 2023

Lower tax rate u/s 115BAA can’t be availed if Form 10-IC wasn’t filed by extended deadline: ITAT One of…

IT Judgement

Sec. 263 order shall be deemed to have never been issued if it didn’t contain Document Identification Number: ITAT

15 Feb 2023

Sec. 263 order shall be deemed to have never been issued if it didn’t contain Document Identification Number: ITAT …

IT Judgement

ITAT condones a delay of 36 days in filing appeals

14 Feb 2023

ITAT condones a delay of 36 days in filing appeals Shri Srinivasan Sathiyamoorty (ITA Nos. 1173 & 1174/Bang/2022)…

House propery IT Judgement

Expenses incurred to make the newly purchased house habitable can be claimed as a deduction U/S 54: ITAT Mumbai

10 Feb 2023

Expenses incurred to make the newly purchased house habitable can be claimed as a deduction U/S 54: ITAT Mumbai Renu…

IT Judgement

Unauthorised sale of company’s land by a director, cannot be considered as unaccounted money: ITAT

10 Jan 2023

Unauthorised sale of company’s land by a director, cannot be considered as unaccounted money: ITAT M/S Anush Infrastructure Pvt…

IT Judgement

Common Penalties for defaults in the Income Tax Law: An Overview

15 Dec 2022

Common Penalties for defaults in the Income Tax Law: An Overview No law can exist without the penal provision. To…

IT Judgement IT Judgement

Capital gains: Whether AO has power to refer the matter to DVO and deny the valuation report as on 1-4-1981 of a registered valuer?

4 Jun 2020

Capital gains: Whether AO has power to refer the matter to DVO and deny the valuation report as on 1-4-1981…

IT Judgement

Any Contravention of sections 269SS and 269T if Cash is received by assessee from Commission Agent against the crops?

1 Jun 2020

Any Contravention of sections 269SS and 269T if Cash is received by assessee from Commission Agent against the crops? Short…

IT Judgement

Intereeting Judgment : Capital gains on Mortgaged property sold by bank on assessee’s failure to pay loan amount

1 Jun 2020

Intereeting Judgment : Capital gains on Mortgaged property sold by bank on assessee’s failure to pay loan amount Short Overview: If…

Income Tax IT Judgement IT Judgement

No interest u/s 234B & 234C if the tax liability arises due to retrospective amendment of law: Calcutta HC

15 Apr 2020

No interest u/s 234B & 234C if the tax liability arises due to retrospective amendment of law: Calcutta HC …

IT Judgement

Get Ready for Favourable Judgment : Rajasthan HC notice to the Income Tax Department against Post Demonetisation addition done prior to 15th Dec 2016 (i.e., the effective date of amendment in section 115BBE)

11 Mar 2020

Get Ready for Favourable Judgment : Rajasthan HC notice to the Income Tax Department against Post Demonetisation addition done prior…

Income Tax IT Judgement

Membership received from its own members came within the principle of mutuality. Once assessee is governed by principle of mutuality, even if there are difference class of members, some of whom are not entitled to vote, the club would not be cease to be governed by principle of mutuality.

9 Mar 2020

Membership received from its own members came within the principle of mutuality. Once assessee is governed by principle of mutuality,…

IT Judgement

Conversion of limited scrutiny case into complete scrutiny without approval of Administrative CIT is bad in law

6 Mar 2020

Conversion of limited scrutiny case into complete scrutiny without approval of Administrative CIT is bad in law Suresh Jugraj Mutha…

IT Judgement

Interest on fixed deposit received during trial run is a capital receipt which will reduce the cost of asset

24 Feb 2020

Interest on fixed deposit received during trial run is a capital receipt which will reduce the cost of asset Short…

IT Judgement

Cash deposits during the demonetization: If amount deposited is out of the sale proceeds, addition under section 68 of the Act that will amount to double taxation

Confiscated goods cannot be claimed as a trading loss incidental to business: SC

When the Assessing Officer has taken up the assessment for examination after three or four years from the relevant financial year, no material evidence may be available on the land to show that the assessee has cultivated as claimed. AO has to rely on other records: ITAT

If one can conclude that there is no suppression in the value, question of invoking Section 50C does not arise.

Lower tax rate u/s 115BAA can’t be availed if Form 10-IC wasn’t filed by extended deadline: ITAT

Sec. 263 order shall be deemed to have never been issued if it didn’t contain Document Identification Number: ITAT

ITAT condones a delay of 36 days in filing appeals

Expenses incurred to make the newly purchased house habitable can be claimed as a deduction U/S 54: ITAT Mumbai

Unauthorised sale of company’s land by a director, cannot be considered as unaccounted money: ITAT

Common Penalties for defaults in the Income Tax Law: An Overview

Capital gains: Whether AO has power to refer the matter to DVO and deny the valuation report as on 1-4-1981 of a registered valuer?

Any Contravention of sections 269SS and 269T if Cash is received by assessee from Commission Agent against the crops?

Intereeting Judgment : Capital gains on Mortgaged property sold by bank on assessee’s failure to pay loan amount

No interest u/s 234B & 234C if the tax liability arises due to retrospective amendment of law: Calcutta HC

Get Ready for Favourable Judgment : Rajasthan HC notice to the Income Tax Department against Post Demonetisation addition done prior to 15th Dec 2016 (i.e., the effective date of amendment in section 115BBE)

Membership received from its own members came within the principle of mutuality. Once assessee is governed by principle of mutuality, even if there are difference class of members, some of whom are not entitled to vote, the club would not be cease to be governed by principle of mutuality.

Conversion of limited scrutiny case into complete scrutiny without approval of Administrative CIT is bad in law

Interest on fixed deposit received during trial run is a capital receipt which will reduce the cost of asset

Recent Posts

Recent Posts

Sign Up to New letter