Category: Income Tax
Capital Gain exemption u/s 54 denied for investment not out of sale proceeds ABCAUS Case Law CitationABCAUS 3646 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the action of Assessing Officer (AO) in restricting capital gain exemption …
CBDT has notified e-Verification Scheme, 2021 on 13th December 2021. Presently data pertaining to FY 2019-20 is under verification. CBDT has sought cooperation of the deductors in the successful implementation of the Scheme. Presently data pertaining to FY 2019-20 is under verification. With the help of various e-statements i.e. …
Capital Gain exemption u/s 54F denied for want of proof of delay in construction by the builder as per time frame. ABCAUS Case Law Citation:ABCAUS 3645 (2023) (01) ITAT Important Case Laws relied upon:T Shiva Kumar vs ITO 9158 ITD 329Satish Chandra Gupta vs AO (54 ITD 508) ACIT …
Onus to explain investment sources by wife discharged when she and her husband both admitted that husbands paid the money – ITAT ABCAUS Case Law CitationABCAUS 3644 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition …
Non searched persons liable to pay interest on late filing of return u/s 158BC even in absence of a notice u/s 158BC and even for the period prior to 01.06.1999 – Supreme Court ABCAUS Case Law Citation ABCAUS 3643 (2023) (01) SC Important Case Laws relied upon:Mathuram Agrawal …
Supreme Court amends section 10(26AAA) to extend exemptions to Sikkimese and women who marries non Sikkimese ABCAUS Case Law Citation ABCAUS 3641 (2023) (01) SC In the instant case a writ was filed before the Hon’ble Supreme Court praying striking down Section 10(26AAA) of the Income Tax Act, …
Liability of company paid by Director in cash is cash loan u/s 269SS liable to Penalty u/s 271D of the Income Tax Act, 1961. ABCAUS Case Law Citation ABCAUS 3640 (2023) (01) ITAT Important Case Laws relied upon:CIT v. Dimple Yadav, reported in (2015) 280 CTR (All) 309CIT …
Deemed dividend to be taxed in the hands of individual shareholder and not in the hands of Partnership Firm in which he is partner ABCAUS Case Law CitationABCAUS 3638 (2023) (01) HC In the instant case, the assessee had challenged the order passed by the Income Tax Appellate …
Interest paid to legal heirs of deceased partner cannot be disallowed merely on ground of passing book entry on year end – ITAT ABCAUS Case Law Citation ABCAUS 3637 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
Interests on capital account has to be calculated on daily product basis not on opening or closing balance of financial year – ITAT ABCAUS Case Law Citation ABCAUS 3636 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
