Category: Judgments

No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to HC decisions

No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to HC decisions

December 6, 2016 Income Tax, ITAT, Judgments
No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to High Court decisions ABCAUS Case Law Citation: ABCAUS 1076 (2016) (12) ITAT Assessment Year: 2008-09 Date of Judgment: 01-12-2016 Brief Facts of the Case: During the scrutiny proceedings of the …
Exemption us 10(19A) apply to whole palace including let out part and not confined to portion only in Rulers actual occupation-Supreme Court

Exemption us 10(19A) apply to whole palace including let out part and not confined to portion only in Rulers actual occupation-Supreme Court

December 5, 2016 Income Tax, Judgments, Supreme Court
Exemption us 10(19A) apply to whole palace including let out part and not confined only to portion in actual occupation of Ruler-Supreme Court ABCAUS Case Law Citation: ABCAUS 1075 (2016) (12) SC Assessment Year: 1978-79  Important Case Laws cited: Maharawal Laxman Singh vs. C.I.T. C.I.T. vs. H.H. Maharao …
Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for year end goods in transit valid

Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for year end goods in transit valid

December 4, 2016 Income Tax, ITAT, Judgments
Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for goods in transit at the year end valid-ITAT ABCAUS Case Law Citation: ABCAUS 1072 (2016) (12) ITAT Assessment Year: 2011-12 Date of Judgment: 29-11-2016 Important Case Laws cited: Morvi Industries …
Offer Period under SEBI Takeover Regulations commencement date is from the date of concluded share purchase agreement-SC

Offer Period under SEBI Takeover Regulations commencement date is from the date of concluded share purchase agreement-SC

December 2, 2016 Judgments, SEBI, Supreme Court
Offer Period under SEBI Takeover Regulations commencement date is from the date of concluded share purchase agreement for violation u/s 22(7)-Supreme Court ABCAUS Case Law Citation: ABCAUS 1071 (2016) (12) SC The Grievance: In the present case, SEBI had challenged order of the Securities Appellate Tribunal reversing the …
50C provisions not apply to transfer of right in partnership firm. Sale deed of property executed in favour of incoming partners by retiring partners-ITAT

50C provisions not apply to transfer of right in partnership firm. Sale deed of property executed in favour of incoming partners by retiring partners-ITAT

December 2, 2016 Income Tax, ITAT, Judgments
50C provisions not apply to transfer of right in partnership firm. Sale deed was executed in favour of incoming partners for transferring retiring partner’s right in the property belonging to the partnership firm-ITAT ABCAUS Case Law Citation: ABCAUS 1070 (2016) (12) ITAT Assessment Year: 2011-12 Date/Month of Judgment/Order: …