Capital gains calculation can be done after considering Interest paid on housing loan as Cost of acquisition

Capital gains calculation can be done after considering Interest paid on housing loan as Cost of acquisition Subhash Bana v. ACIT Decision:    In assessee's favour.   Capital gains--Cost of acquisition--Interest paid on housing loan allowed as deduction under section 24(b) Facts: Assessee earned capital gain on ...
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Unpaid tax dues of Pvt Ltd Company is no basis to lift corporate veil; No recovery can be initiated against Directors u/s 179(1) in absence of hearing

AHEMDABAD,  : THE ISSUE BEFORE THE DIVISION BENCH IS - "Whether notices in form of recovery or reminders of unpaid tax or penalty, issued specifically to pvt ltd company, can be enforced personally against its directors without specific notice of ...
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Revisionary power of commissioner

Hitech Analytical Services v. Pr. CIT Decision:    Case remanded. Revision under section 264--Firm's expenses claimed in individual return-- Filed revised computation for both Facts: Assessee claimed expenses incurred on audit fees, car loan interest, depreciation, petrol expenses and travelling expenses in her individual return. AO ...
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