Judgments

  • Income Tax

Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares-ITAT held so relying on 2 HC Judgments

Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares. This was held…

8 years ago
  • Income Tax

Sale of shares was not business income but investment income ITAT held so quoting CBDT latest circular no. 6/2016, F.No. 225/12/2016/ITA.II dt. 02/5/2016

In a recent judgment, ITAT has held that the sale of shares by the assessee was not business income but…

8 years ago
  • Income Tax

No Penalty us 2711c for additions made on DVO report basis as it is just an opinion estimate. This proposition of Law is in line with Supreme Court judgment

No Penalty us 2711c for additions  made on DVO report basis as the DVO report is just an opinion or…

8 years ago
  • Income Tax

Notional interest Perquisite on Security deposit paid to landlord. Notional Interest on amount paid by employer for employee’s accommodation not perquisite

Notional interest Perquisite on Security deposit paid to landlord. Notional Interest on amount paid by employer for employee's accommodation not…

8 years ago
  • Income Tax

Interest 234B invalid if TDS deductible on entire income us 195 as there is no failure on the part of the assessee in payment of advance tax-ITAT

Interest 234B invalid if TDS deductible on entire income us 195 as there is no failure on the part of…

8 years ago
  • Income Tax

AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148

AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148…

8 years ago
  • Income Tax

Addition us 68 remanded back for short time lag between inquiry initiation and conclusion when the evidence was to be produced in just 10 days

Addition us 68 remanded back by ITAT for short time lag between inquiry initiation and conclusion when the evidence was…

8 years ago
  • Income Tax

Gift received from Step Father not taxable us 56(2)(vi) as income from other sources in view of meaning of relatives as per Explanation to section 56(2)

Gift received from Step Father not taxable us 562vi as income from other sources. The Explanation to section 56(2) would indicate…

8 years ago
  • Income Tax

Bad Debts written off as irrecoverable must form part of income. ITAT specifies 6 requisite conditions to be adhered for allowance of bad debts.

Bad Debts written off as irrecoverable must form part of income. The assessee can claim bad debts by just writing off…

8 years ago
  • Income Tax

ICAI coaching income exempt us 11. The institute is an educational institute and its activities falls within the meaning of charitable purpose u/s 2(15)-ITAT

ICAI income exempt us 11. The institute is an educational institute and its coaching activities falls within the meaning of…

8 years ago