Daily Archive: Thursday, March 9, 2017

Service Tax exemption to educational institution from renting of immovable property not to apply except pre-school or higher secondary

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Service Tax exemption to educational institution from renting of immovable property not to apply except pre-school or education up to higher secondary or equivalent. Amendment to Mega Exemption Notification GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 10/2017-Service Tax, New Delhi, the 8th March, 2017 GSR (E).-

 

No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

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No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC In a recent judgment, the Hon’ble Allahabad High Court has held that capital gain exemption u/s 54F not allowable if construction not started within prescribed time. ABCAUS Case Law Citation:

 

ITAT lacks power to dismiss appeal without adverting to merits even if the appellant is absent-Allahabad High Court

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ITAT lacks power to dismiss appeal without adverting to merits -Allahabad High Court In a recent judgment, the Hon’ble Allahabad High Court has reiterated that currently ITAT does not have power to dismiss appeal without adverting to the merits of the appeal even if the appellant is absent. ABCAUS

 

India-Belgium DTAA and Protocol amendment signed for Avoidance of Double Taxation and Prevention of Fiscal Evasion of Taxes on Income

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India-Belgium DTAA and Protocol amendment signed for Avoidance of Double Taxation and Prevention of Fiscal Evasion of Taxes on Income  Government of India Ministry of Finance Department of Revenue      Central Board of Direct Taxes  New Delhi, 9th March, 2017. Press Release India and Belgium sign Protocol amending the

 

Deduction us 54B for land purchased in wife’s name disallowed by ITAT following the judgment of Punjab & Haryana High Court.

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Deduction us 54B for land purchased in wife’s name disallowed by ITAT following the judgment of Punjab & Haryana High Court. ABCAUS Case Law Citation: ABCAUS 1163 (2017) (03) ITAT Assessment Year : 2007-08 Date/Month of Pronouncement: February 2017 Brief Facts of the Case: The appellant assessee sold certain