Income from Sale of Shares treated as Business Income as Assessee himself treated the same as Business Income in earlier & Subsequent years
ITAT held that A transaction of purchase and a transaction of sale are two different transactions in two opposite directions. If the allegation is that bogus purchases were made and the reply given thereof is that no such purchases were made, but in fact it was a sale by the assessee, it was for the Income Tax officials to apply their own mind on the reply given by the petitioner.
Praveen Kumar Chauhan Vs ITO (ITAT Delhi) Revenue submitted that the assessee failed to explain the source of cash deposits. The only contention of the assessee before the authorities below was that the amount was received as a gift from his father. He submitted that the assessee has merely filed an affidavit. However, creditworthiness of […]
ITAT held considering the practical difficulties involved in furnishing the segmental details of AE transactions and non-AE transactions, penalty under Sec. 271G could not be justifiably imposed.
ITAT Ahmedabad upholds disallowance of Amay Pharma’s expenditure on gifts to doctors. Setback on c/f loss setoff. Latest SC ruling cited.
Stay updated with the recent amendments related to Directors appointment, Form DIR-2 & DIR-3 in the Companies Act, 2013.
If Articles of Association permit, existing Board of Directors can appoint other ‘Additional directors‘ who can hold office till their confirmation at next meeting of shareholders.
Affiliate marketing is indeed a profitable business. If you’re new to it, you may wonder if the commissions you’re earning from affiliate links are taxable.
Understand the tax implications of distributing gifts and incentives to distributors/dealers. Learn about GST and TDS regulations in promotional activities.
Nazma Naz Vs Rukhsana Bano (Supreme Court of India) Having heard learned counsel for the petitioners and learned counsel for the State, and having perused the material placed on record, we are clearly of the view that the impugned order dated 19.12.2018 as passed by the High Court, transferring the proceedings in Sessions Trial No. […]
