Issue of bonus shares not taxable. ITAT deleted addition made u/s 56(2)(vii)(c) of the Income Tax Act 1961 In a…
Excess stock of gold found during survey cannot be isolated with regular stock in trade to be treated unexplained investment…
Margin of profits in Arhat business is not strictly comparable with previous years unlike other business ventures. It depends upon…
ITAT allows profits from sale of plots earlier converted into stock in trade as capital gain with indexation benefit ABCAUS…
Redemption of ULIP not exempt u/s 10(10D) taxable as capital gains not income from other sources, ITAT allows benefit of…
ITAT refused to admit additional evidence when were available with assessee before the completion of the assessment and no reasons…
Interest income earned on fixed deposits of Clubs are taxable under Section 2(24) of the Income Tax Act and principle…
Service Tax show cause was illegal as classification of services mentioned was completely erroneous – Supreme Court In a recent…
Consideration used in section 48 does not have any reference to market value but only to consideration referred to in…
Income Tax Act provides complete machinery for assessment/reassessment of tax, assessee is not permitted to abandon that machinery and invoke…