Judgments

  • Income Tax

Reopening for not replying enquiry letter issued on AIR basis to verify source of investment held bad

Reopening for not replying enquiry letter issued on AIR basis to verify source of investment in the property held invalid…

7 years ago
  • Service Tax

Mere non-payment of service tax was not suppression of material facts for invoking extended period of limitation-High Court

Mere non-payment of service tax was not suppression of material facts for invoking extended period of limitation under proviso to…

7 years ago
  • Income Tax

Non speculative business loss can be set off against profits of any business including speculative business–High Court

Non speculative business loss can be set off against profits of any business including speculative business carried on by assessee…

7 years ago
  • Income Tax

Affidavit of assessee not accepted as it was signed by some one else on behalf of the assessee

Affidavit of assessee not accepted as it was signed by some one else on behalf of the assessee and not…

7 years ago
  • ICAI

RTI revealed ICAI Council had no record of oral discussions in forming prima facie opinion. However, CA’s Petition rejected on legal ground

ICAI Council had no record of oral discussions in forming prima facie opinion of misconduct against CA. However, Petition of…

7 years ago
  • Income Tax

Supreme Court explains concept of JDA and tax liability us 2(47), Section 45 and 48

Supreme Court explains the concept of income tax on Joint development agreement and applicability u/s 2(47) and section 45 and…

7 years ago
  • Income Tax

Cash transactions between husband-wife do not attract section 269SS – ITAT

Cash transactions between husband-wife do not attract section 269SS if transactions are not for commercial use. Tribunal deleted penalty under…

7 years ago
  • Income Tax

ITAT comment against CA profession was out of sheer desperation & frustration-Bombay HC strongly criticises ITAT

ITAT comment against CA Profession was out of sheer desperation & frustration. Bombay High Court strongly criticises ITAT for its…

7 years ago
  • Income Tax

Penalty for non payment of self assessment tax where return is revised and tax is paid

Assessee liable to penalty u/s 221(1) for non payment of self assessment tax under section 140A, where return is revised…

7 years ago
  • Income Tax

Penalty 271(1)(c) for interchanging opening wdv of fixed assets with assets of higher depreciation rate

Penalty 271(1)(c) for mistakenly interchanged opening wdv of fixed assets with block of assets admissible a higher rate of depreciation…

7 years ago