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section 45

Latest Articles


Analysing Bail Jurisprudence under PMLA: Unravelling Problematic Twin Conditions

Corporate Law : Explore complexities of PMLA bail conditions, their impact on accused, and constitutional concerns. A comprehensive analysis sheds...

January 6, 2024 1650 Views 0 comment Print

Income-Tax Implications: Joint Development Agreement & Property Transactions

Income Tax : Explore Income-Tax Implications of Joint Development Agreements in Property Transactions. Unveil the complexities of Section 45(5A...

November 18, 2023 46911 Views 30 comments Print

Income Tax on Joint Development Agreements under Section 45(5A)

Income Tax : Learn how Joint Development Agreements (JDA) affect income tax under Section 45(5A) of the Income Tax Act. Understand calculations...

November 4, 2023 6510 Views 0 comment Print

Understanding the Principle of Mutuality in Tax Law: Key Implications

Income Tax : Dive into the Principle of Mutuality, exploring its meaning, tax implications, and impact on cooperative societies. Discover case ...

August 5, 2023 18591 Views 2 comments Print

Exemptions from Capital Gain under Income Tax act, 1961

Income Tax : Any Profit or gain arising from the transfer of Capital asset is taxable as a Capital Gain u/s 45 of the Income Tax act, 1961. It ...

March 13, 2023 4716 Views 0 comment Print


Latest Judiciary


Agricultural nature of land at time of sale determinative regardless of buyer’s intended use: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that the agricultural nature of the land at the time of sale is determinative, regardless of the buyer's inten...

September 18, 2024 210 Views 0 comment Print

No addition u/s 69A as sale consideration was not received by assessee in relevant year

Income Tax : Assessee-company was carrying out the business of manufacturing and trading of dies and pigments, but no business activity was car...

September 4, 2024 573 Views 0 comment Print

Shares held for exactly 12 months treated as long term as date of transfer included in holding period: ITAT Mumbai

Income Tax : ITAT Mumbai held that holding period of the capital goods includes the date on which asset is acquired and also date of sale/ tran...

August 28, 2024 594 Views 0 comment Print

No Mandamus Can Be Issued to Enforce Particular Thought Without Legal Basis: Bombay HC

Corporate Law : Bombay High Court dismissed the PIL filed by a self-styled criminology firm observing that no mandamus can be issued merely for en...

August 27, 2024 183 Views 0 comment Print

Compensation paid to ESOP holders qualifies as perquisite hence taxable as salary income: Madras HC

Income Tax : Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary�...

August 26, 2024 492 Views 0 comment Print


Latest Notifications


Government Notifies Section 64B of Competition Act, 2002 from 26.10.2023

Corporate Law : Discover the implications of the government's notification on Section 64B of the Competition Act, effective from October 26, 2023....

October 26, 2023 606 Views 0 comment Print

CBDT issues guidelines on partnership firm taxation | Section 45(4)

Income Tax : It is noticed that the amount taxed under sub-section (4) of section 45 of the Act is required to be attributed to the remaining c...

July 2, 2021 50457 Views 0 comment Print

Section 45(4) | CBDT amends rule 8AA & Inserts Rule 8AB

Income Tax : CBDT vide Notification No. 76/2021-Income Tax | Dated: 2nd July, 2021 amends rule 8AA which relates to Method of determination of ...

July 2, 2021 16428 Views 0 comment Print


Latest Posts in section 45

Agricultural nature of land at time of sale determinative regardless of buyer’s intended use: ITAT Ahmedabad

September 18, 2024 210 Views 0 comment Print

ITAT Ahmedabad held that the agricultural nature of the land at the time of sale is determinative, regardless of the buyer’s intended use. Thus, land sold was agricultural land and hence doesn’t attract capital gain.

No addition u/s 69A as sale consideration was not received by assessee in relevant year

September 4, 2024 573 Views 0 comment Print

Assessee-company was carrying out the business of manufacturing and trading of dies and pigments, but no business activity was carried out during the period when the assessment proceedings were carried out.

Shares held for exactly 12 months treated as long term as date of transfer included in holding period: ITAT Mumbai

August 28, 2024 594 Views 0 comment Print

ITAT Mumbai held that holding period of the capital goods includes the date on which asset is acquired and also date of sale/ transfer of the same. Accordingly, shares held for exactly 12 months treated as long term.

No Mandamus Can Be Issued to Enforce Particular Thought Without Legal Basis: Bombay HC

August 27, 2024 183 Views 0 comment Print

Bombay High Court dismissed the PIL filed by a self-styled criminology firm observing that no mandamus can be issued merely for enforcing a particular thought of an individual or an organization, if it is not supported by any legal premise.

Compensation paid to ESOP holders qualifies as perquisite hence taxable as salary income: Madras HC

August 26, 2024 492 Views 0 comment Print

Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary’. The same cannot be treated as capital receipt.

Deduction u/s. 54 admissible even when return is filed belatedly: ITAT Ahmedabad

August 26, 2024 357 Views 0 comment Print

ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when return is filed belated return of income under section 139(4) of the Income Tax Act.

Appellate Authority cannot condone delay beyond 4 Months u/s 107 of CGST Act

August 26, 2024 249 Views 0 comment Print

Appellate authority could not condone delay beyond four months under section 107 and this discretion conferred upon the appellate authority was restricted to condoning the delay only for a maximum period of one month.

Settlement Consideration Taxable as ‘Capital Gains’: Delhi HC

August 17, 2024 1464 Views 0 comment Print

Delhi HC held that the settlement consideration as received was liable to be recognized as capital gains and the same couldn’t possibly or justifiably be placed in the category of ‘profit in lieu of salary’.

Amount paid by Donor as well as Holding Period of previous owner is required for purpose of computing capital gain in case of ‘Gift’

August 12, 2024 3585 Views 0 comment Print

Assessee, a resident of USA, filed his return claiming refund of Rs.58,57,820/-. During assessment year, assessee had sold two properties for consideration of Rs.1,95,00,0000/- and Rs.72,36,552/- respectively.

Service Tax Exempt on Banking services by Nationalized Bank to RBI: CESTAT Chandigarh

August 9, 2024 117 Views 0 comment Print

CESTAT Chandigarh held that banking services provided by Nationalized Bank to Reserve Bank of India are exempted from levy of service tax. Accordingly, service tax not leviable.

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