INCOME TAX : Where founder trustee of assessee-trust was holding only 0.83 per cent of aggregate paid-up ordinary share capital of TSL, whic...
Read More
Showing posts with label www.taxmann.com Latest Case Laws. Show all posts
Showing posts with label www.taxmann.com Latest Case Laws. Show all posts
LTCG invested in buying residential house outside India was eligible for sec. 54F exemption prior to 1-4-2015 : ITAT
INCOME TAX : Once assessee invested long term capital gain on sale of immovable property in buying residential house either in India or outs...
Read More
Assessment can be completed without issuing demand notice if appeal against Sec. 263 revision is pending before ITAT: HC
INCOME TAX : Even if appeal against revision order passed under section 263 was pending before Tribunal, Assessing Authority could complete ...
Read More
Trust can’t be assessee as AOP if order cancelling trust registration was set-aside by ITAT: HC
INCOME TAX : Where registration granted to assessee under section 12AA was cancelled by Commissioner and said order of cancellation of regis...
Read More
HC accepted assessee’s plea that book-keeping staff posted wrong entry due to voluminous transactions; deleted penalty
INCOME TAX : Where penalty under section 271(1)(c) imposed on assessee for furnishing inaccurate particulars of dividend income was deleted ...
Read More
RVE couldn’t continue as valuer when it failed to take action against its director for misconduct
COMPANY LAW : Where registration of one of directors of Registered Valuer Entity (RV-E) as a registered valuer was suspended for his alleged...
Read More
Co. not entitled to reduce book profit by loss which was subject matter of qualification by its auditors: ITAT
INCOME TAX : Assessee was not entitled to reduce book profit by capital loss debited to Pamp;L account which was subject matter of qualifica...
Read More
Year in which remission took place when IWAI sanctioned interest subsidy to bank is question of fact: HC
INCOME TAX : Where IWAI had conveyed sanction of payment of interest subsidy to IDBI in respect of loan granted to assessee and amount was c...
Read More
Sum paid for use of technical know-how amp; process can’t be treated as capital exp. if only license was granted: ITAT
INCOME TAX : Where assessee-company paid certain amount to its parent company located in Sweden towards royalty for use of technical know-ho...
Read More
HC quashes reassessment order passed on an altogether new stand as mentioned under ‘reason to believe’
INCOME TAX : Where Assessing Officer issued a reopening notice on assessee-company under section 148 on ground that assessee had received ce...
Read More
Sum overdue as per books of creditor-bank can be claimed against borrowers for calculating deposit for filing appeal
FEMA amp; BANKING : Amount which is outstanding as per accounts of secured creditor bank would be material, which can be claimed by bank aga...
Read More
Payment in violation of sec. 40A(3) to be disallowed even if transaction was genuine amp; party was identifiable: ITAT
INCOME TAX : Where assessee made certain payments in cash which exceeded stipulated limit specified in section 40A(3), therefore, notwithsta...
Read More
AO can’t make sec. 69 addition relying upon assessee’s valuation report without making reference to DVO : ITAT
INCOME TAX : Where assessee-company had been consistently making provisions for payment of expenses at end of each year and in case a short ...
Read More
Recovery Suit was rightly dismissed by Trial Court as appellant couldn’t produce evidence to prove transaction of loan: HC
FEMA, BANKING amp; INSURANCE LAWS : Where appellant claimed to have advanced loan of Rs. 20 lakhs through cheque to respondent company, out ...
Read More
Exp. incurred for acquisition of land on behalf of Govt. while executing project can’t be treated as capital exp.: ITAT
INCOME TAX : Where assessee executed Border Out Post works for Ministry of Home Affairs and made certain payment to various States towards c...
Read More
Assessee to take defense before AO if it claimed that income stated in sec. 148 notice was disclosed in earlier years: HC
INCOME TAX : Where Assessing Officer reopened assessments for reasons that during assessment years 2013-14 and 2015-16 assessee had earned i...
Read More
Provisions made for sales return to be allowed if obligation to accept sales return arose on date of sale: ITAT
INCOME TAX : Where assessee-company, engaged in business of retail trading, had furnished documentary evidences showing that octroi expenses...
Read More
HC slams AO for issuing notice in deceased name as legal representative duly informed about assessee’s death
INCOME TAX : Where Assessing Officer issued notice under section 148 to assessee to file return on 31-3-2021 and writ applicant, legal repre...
Read More
SAT calls for inquiry into violations of Cos. Act by Vedanta w.r.t. non-payment of dividend to Cairn UK Holdings Ltd.
COMPANY LAW/SEBI : Non-payment of declared dividend by Vedanta prima facie violates sections 127 amp; 124 of CA 2013; directs SEBI to inquir...
Read More
HC slams AO for issuing notice deceased name as legal representative duly informed about assessee’s death
INCOME TAX : Where Assessing Officer issued notice under section 148 to assessee to file return on 31-3-2021 and writ applicant, legal repre...
Read More
Subscribe to:
Posts (Atom)
Tally - Auto Entry Utility
Hi guys, For those making year end entries in tally and those having huge volume of entries carrying some frequencies (daily/weekly/month...
