Learn whether PMS fees can be deducted from capital gains under Section 48 of the Income-tax Act, 1961. This article explains the conflicting judicial views and the required documentation.
Delhi ITAT quashed a ₹20 crore tax addition against Karan Motors, ruling the assessment void as the AO lacked a valid jurisdictional order.
Delhi ITAT deletes ₹3.54 lakh TDS demand on a property buyer, ruling that the lower TDS rate certified by tax authorities was correctly applied.
Madras High Court held that commercial tax officer cannot be penalized merely on the ground that the collection target was not reached by him. Accordingly, order imposing penalty is liable to be set aside.
ITAT Delhi dismissed an appeal from a gaushala society, upholding the denial of its income tax exemption due to the lack of mandatory registration under Section 12AA.
Mumbai ITAT rules that an addition under Section 43CA cannot be sustained without a reference to the Departmental Valuation Officer (DVO), especially when the taxpayer specifically requests it. This case highlights the importance of fair valuation in property transactions.
SEBI’s new regulations for InvITs redefine the term “public,” adjust reporting timelines, and lower the minimum investment threshold for privately placed InvITs.
Supreme Court dismisses review petition, affirming that the GST department cannot seize cash or valuables unless they are directly linked to GST violations.
Madras High Court held that order imposing penalty u/s. 122(1)(vii) is set aside and remitted back with a condition to deposit 25% of disputed tax via Electronic Cash Register since petitioner failed to appear.
Gujarat AAR rules on GST for employee accommodation, deeming it a non-taxable perquisite. ITC is admissible, but GST applies to trainees’ accommodation.
