FMV of property on lease to be determined by applying rent capitalization method taking the rent actually received by the assessee and not the fair market rent – ITAT ABCAUS Case Law Citation:ABCAUS 2985 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Kerala v. Hassan Koya, …

ICAI Information Systems Audit Course Assessment Test, June, 2019 ICAI has announced the date of next ISA Course Assessment Test, June, 2019 on Saturday, the 29th June, 2019. An application for admission to the ISA-AT is required to be submitted online by visiting http://isaat.icaiexam.icai.org and the sum of …

Rigorous imprisonment awarded u/s 276B for delayed late deposit of TDS. Assessee had culpable mental state as he remained absent before the authorities and  also not filed application for compounding ABCAUS Case Law Citation:ABCAUS 2984 (2019) (06) AC Important Case Laws Cited/relied upon by the parties:Gopal Engineering V/s …

Addition u/s 40(a)(ia) in rectification proceedings u/s 154 upheld as question of second proviso being prospective was not debatable in view of jurisdiction High Court decision ABCAUS Case Law Citation: ABCAUS 2983 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Ansal Landmark Townships …

Without rejecting books of account, it was not proper to make addition towards unexplained investment u/s 69 of the Act   ABCAUS Case Law Citation: ABCAUS 2982 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Smt. P.K. Noorjahan’s (237 ITR 570) w The instant appeal …

Purchasing many small properties itself not good enough reason to hold that it was a business transaction. The quantum or number or number of investments i.e. whether the assessee invested in a single property or in many small properties to get better appreciation, does not change the nature …