Month: August 2018
Capital gain Exemption u/s 54 can not be denied for new property purchased in joint names of self wife & daughter when the amount was actually invested-ITAT ABCAUS Case Law Citation: ABCAUS 2481 (2018) 08 ITAT Important Case Laws Cited/relied upon: CIT vs. Kamal Wahal (2013) 351 ITR …
Date of Agreement to purchase taken as date of acquisition for grant of exemption u/s 54F. Section 2(47) not stipulates registration as mandatory condition ABCAUS Case Law Citation: ABCAUS 2480 (2018) 08 ITAT Important Case Laws Cited/relied upon: Poddar Cement 225 1TR 675 and Mysore Minerals 275ITR 775. …
Application seeking immunity u/s 270AA of the Income Tax Act shall not preclude assessee from contesting the same issue in any earlier assessment year-CBDT Circular No. 5/2018 F. No. 370149/155/2018-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi, Dated 16th …
In application for setting aside arbitral award, cross examination / Trial of persons swearing to affidavits should not be allowed unless absolutely necessary – Supreme Court ABCAUS Case Law Citation: ABCAUS 2479 (2018) 08 SC Important Case Laws Cited/relied upon: Indus Mobile Distribution Pvt. Ltd. v. Datawind Innovations …
Share Capital/Premium can not be regarded as undisclosed income. High Court deleted addition made for share premium u/s 68 ABCAUS Case Law Citation: ABCAUS 2478 (2018) 08 HC Important Case Laws Cited/relied upon: Commissioner of Income Tax v. Electro Polychem Ltd. (2007) 294 ITR 661, Commissioner of Income …
ICAI opens bank account for collecting donations for Kerala Flood Relief. The collected amount will be given to Prime Minister national Relief Fund ICAI Kerala Flood Relief Fund The recent flood in the state of Kerala has caused extensive devastation. A large number of people have died and …
Duty free clearance of materials imported for flood relief in Kerala. Organizations not covered by public interest notification may apply adhoc exemption. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS OFFICE OF THE CHIEF COMMISSIONER CENTRAL TAX, CENTRAL EXCISE & CUSTOMS …
CBDT specifies cases to be contested on merits notwithstanding tax effect as per CBDT Circular No. 3/2018 increasing threshold monetary limits for Appeals F No 279/Misc. 142/2007-ITJ (Pt) Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes New Delhi the 20th August, 2018 To, …
Extension of Last Date of Multipurpose Empanelment Form for the Year 2018-19 In view of flood in Kerala, approaching last dates of various regulatory compliances with CBDT & MCA etc. and considering the requests received from fraternity across the Country, ICAI has extended the last date for submission of online …
Procedure for valuation of inventory from tag price during survey u/s 133A-Cost price has to be determined and due deduction to be given towards direct expenses – ITAT ABCAUS Case Law Citation: ABCAUS 2477 (2018) 08 ITAT Important Case Laws Cited/relied upon: CIT v. S. Khader Khan Son, …