Article contains recent 29 Judgment on the issue of Disallowance towards employees’ contribution towards ESI and PF for failure to pay the same within the prescribed due date under the relevant Statute. Sl no Case Reference Issue Decision – Summarised 1 Jagmohan Singh Vs DCIT (ITAT Chandigarh), Appeal Number : ITA Nos. 185 & 193/Chd/2021, […]
Jagdish Arora Vs ITO (ITAT Agra) Long Term Capital Gain on compulsory acquisition – Taxability Event – and applicability of RFCTLARR Act 2013 – Whether the compensation received on account of Compulsory Acquisition by Government is exempt under provision of Section 96 of RFCTLRR Act 2013 – if the land acquired prior to applicability of […]
Section 37(1) of the Income Tax provides for a general deduction for all expenditure laid out wholly and exclusively for the purpose of the business or profession. The relevant exclusions made by the section along with the Explanation 1 are the following: (i) Expenses of capital nature, (ii) Expenses which are personal in nature, (iii) Expenses incurred […]
KAPURCHAND SHRIMAL VERSUS COMMISSIONER OF INCOME-TAX, AP Whether an order of assessment passed under the Indian I.T. Act, by the ITO without holding an enquiry into the validity of the claim made within a reasonable time is liable to be merely cancelled in appeal by the Income-tax Appellate Tribunal without a further direction to the […]
Naveen Infradevelopers & Engineers Pvt. Ltd Vs DCIT (ITAT Delhi) With the approval of the Competent Authority, the following officers shall hold the charge along with zonal charges mentioned against their name with immediate effect, until further orders: Reopening of assessment u/s 147 – Addition u/s 68 – optionally convertible debentures issued to the Infotel technologies […]
ACIT Vs. V. V. Rajam (ITAT Hyderabad) AO has observed that the assessee has purchased a land of 2 acres in survey No. 356/3E1/1 situated at Pragnyapur village, Gajwel Mandal, Medak District in his name for a consideration of ₹ 1.2 crore as well as purchased a house in Hyderabad in his wife’s name for […]
ACIT Vs. K. S. Chawla & Sons (HUF) (ITAT Delhi) > HELD THAT:- In the present assessee’s case, search & seizure action u/s 132 of the Act was carried out on 15.10.2009 in the premises of Mr. Abhinav Arora and Mrs. Ranju Arora. Consequently, the Assessing Officer initiated reassessment proceedings u/s 147 of the Act […]
The essential principles of natural justice are the following: Justice should not only be done but seen to be done. One cannot be a judge in his own cause. No party should be condemned unheard. u Impartial hearing must be extended to the person against whom a charge is framed to state his case. Final […]
Allowability of society maintenance charges from rental income – Section 22 : deals the Annual value of property and Section 23 determine the ‘Annual value’, whereas the Allowable deductions from ‘Income from House property’ is in section 25 and Section 25 the amounts not deductable from ‘Income from House property’.
Asha John Divianathan Vs. Vikram Malhotra & Ors. (Supreme Court) Transaction entered into by a foreign citizen of ‘Indian origin’, to deal with real estate in India on certain conditions – transaction (specified in Section 31 of Foreign Exchange Regulation Act, 1973) entered into in contravention of that provision is void or is only voidable […]
