Income Tax

  • Income Tax

Mentioning “decentralization of cases” not sufficient Reason for transfer of cases u/s 127

Mentioning "decentralization of cases" not sufficient Reason for transfer of cases u/s 127 –Supreme Court dismissed SLP of Income Tax…

5 years ago
  • Income Tax

No denial of exemption u/s 54 when assessee invested entire capital gain in purchasing land to construct house

When assessee invested entire capital gain in purchasing land to construct residential house, there cannot be any denial of exemption…

5 years ago
  • Income Tax

Mere making a claim for set off of losses not furnishing inaccurate particulars of income – ITAT

Mere making a claim for set off of losses not furnishing inaccurate particulars of income as it was  personal opinion…

5 years ago
  • Income Tax

Not disclosing accrued FDR interest payable on maturity was not Concealment – ITAT

Not disclosing accrued FDR interest payable on maturity was not Concealment. Penalty deleted as interest was payable on termination or…

5 years ago
  • Income Tax

Revision order passed against dropping penalty u/s 271(1)(c) after expiry of limitation invalid – ITAT

Revisionary order u/s 263 passed against dropping of penalty u/s 271(1)(c) after the expiry of limitation period as provided u/s…

5 years ago
  • Income Tax

Donations received by college were not capitation fee making trust ineligible for claiming exemption u/s 11

Donations received by college were not capitation fee and generation of surplus did not render it ineligible for claiming exemption…

5 years ago
  • Income Tax

Tax deduction by bank before close of financial year do not absolve penalty u/s 271C

Tax deduction by bank before close of financial year would not absolve penalty u/s 271C for non deduction of TDS…

5 years ago
  • Income Tax

Foreign education expenses of director allowed as business expenditure u/s 37(1)

Foreign education expenses of director allowed as business expenditure u/s 37(1) being incurred in furtherance of assessee’s business interest ABCAUS…

5 years ago
  • Income Tax

Unrelated person unlikely to give false affidavit to oblige assessee – ITAT deleted addition

Unrelated person unlikely to give false evidence to oblige the assessee, said ITAT deleting addition made for cash deposit on…

5 years ago
  • Income Tax

Amendment to Application for allotment of PAN under Rule 114

Amendment to Application for allotment of PAN under Rule 114 and details of mother as single parent allowed. CBDT Notification…

5 years ago