Section 54 deduction was allowable on cash transactions involving residential property as it was ensured that genuine investments in residential properties were duly recognized for tax exemptions.
Gujarat High Court ruled on N H Kapadia Education Trust vs ACIT, addressing the corpus donation eligibility for exemption under Section 11(1)(d) of the Income Tax Act.
Explore the detailed analysis of the Active Securities Ltd Vs ITO (ITAT Delhi) case regarding the taxation of rental income from letting out buildings and assets. Understand the implications under ‘Income from other sources’ and ‘Income from house property’.
Guarantee commission charges received by a foreign parent company from its Indian subsidiaries were taxable in India, not as interest but as “other income” under Article 23(3) of the DTAA.
ITAT Mumbai invalidates income tax assessment for a merged entity, emphasizing the legal principle against actions on non-existent entities.
Dive into the NCLAT judgment on Sarda Energy vs Ashish Arjunkumar Rathi, exploring why the Adjudicating Authority can’t substitute CoC’s decisions.
Assessee was a commercial bank having its head office in France and had 8 branches in India. Assessee was involved in normal banking activities including financing of foreign trade and foreign exchange transaction
There was sufficient evidence collected by the respondent Enforcement Directorate to prima facie come to the conclusion that assessee were actively involved in the offence of Money Laundering as defined in Section 3 of the PMLA.
Assessee can’t be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 (DTVSV Act) even where the time limit for an appeal had not expired as DTVSV Act aspired to finally free the tax arrears locked in the litigation combat for ages and ultimately ensures timely collection of tax.
Analysis of Pooja Mehra vs Victory Ace case before NCLAT Delhi. Understanding IBC time limits, belated claims, and implications for creditors. Detailed judgment breakdown.
