Follow Us :

Section 10(23C) application Can’t be Rejected merely for Surplus generation

June 24, 2020 1401 Views 0 comment Print

whether rejection of approval u/s 10(23C) on the allegation of institution existing not solely for the purpose of education but for the purpose of profit is justified in law?

Deduction u/s 35(2AB) of pre-amended period allowed without issue of form No. 3CL from DSIR

June 23, 2020 9837 Views 0 comment Print

Omni Active Health Technologies Ltd Vs ACIT (ITAT Mumbai) The issue under consideration is whether the deduction u/s 35(2AB) towards research and development expenditure claimed by assessee is justified in law? In present case, the assessee claimed deduction u/s 35(2AB) being 200% of amount incurred towards scientific research. The perusal of approvals from DSIR in […]

For section 201(1A) interest ‘month’ means period of 30 days

June 23, 2020 57882 Views 0 comment Print

Month is to be interpreted as period of 30 days and not British calendar for levying additional interest u/s 201(1A) for late payment of TDS?

Section 68: Creditworthiness of lender can’t be proved merely on strength of Bank Statement

June 23, 2020 14346 Views 0 comment Print

The issue under consideration is whether AO is correct in treating unsecured loan received by assessee as unexplained credit under section 68?

Section 148 notice unsustainable as very basis of notice was invalid

June 23, 2020 1515 Views 0 comment Print

High Court states that if the Assessing Officer had no jurisdiction to initiate re- assessment proceeding, the mere fact that subsequent orders have been passed would not render the challenge to jurisdiction infructuous. If the very basis for re- opening assessment does not survive, orders on such re-opening would not survive too. Hence, considering the matter in its entirety HC are of the view that the impugned notice under Section 148 of the Act issued by AO cannot be sustained.

No Complaint under consumer Act for Delay in Passport issue

June 19, 2020 2685 Views 0 comment Print

Passport is not a commodity: No complaint under consumer Act for Delay in Issuance of Passport.

HC permits uploading of form TRAN-I to avail ITC on or before 30.06.2020

June 19, 2020 513 Views 0 comment Print

The issue under consideration is to seeking permission to electronically upload form TRAN-I in order to avail credit of excess VAT reflected in Returns, as due to technical glitches on the GST Portal, the petitioner could not file Form TRAN-I.

No Capital Gain Tax if Consideration not Discharged by Purchaser

June 18, 2020 26373 Views 0 comment Print

whether the AO is correct in chargeing capital gain in the hands of assessee irrespective of the fact that the full consideration not received by the assessee?

Section 68 addition merely for deposit of business receipt of Spouse in joint bank account unsustainable

June 17, 2020 2598 Views 0 comment Print

The issue under consideration is whether the addition made by AO under section 68 in respect of the deposit of business of wife in their joint bank account is justified in law?

Transponder charges received by assessee are not taxable as Royalty

June 17, 2020 738 Views 0 comment Print

The issue under consideration is that Whether the receipts of the assessees from transponder is royalty under the Income Tax Act, 1961, and if the answer is in the affirmative, whether it is taxable?

Search Post by Date
May 2024