Held that the interest income in question is required to be taxed at 10% in terms of the provisions of Article 11(2) of the India-Japan DTAA
CIT(A) merely followed certain case laws without discussing nature of expenses claimed by assessee – Order not sustainable
Held that tax effect in the departmental appeal is less than Rs. 50 Lakhs as revised vide circular dated 08/08/2019. Appeal rejected.
Partition or family settlement is not transfer. When there is no transfer there is no capital gain and consequently no tax on capital gain is liable to be paid.
Held that as the assessee had complied sufficiently the requirement of law as stipulated in section 80IB(10) of the Act and as per the said provision it was bound to complete the building project before 31.03.2012. Deduction u/s 80IB(10) allowed.
Held that even after amendment to the object clause, there is absolutely no change to the purpose and object of the trust. Cancellation of the registration granted u/s 12A unjustified.
In present facts of the case, the Hon’ble ITAT held that ITR and bank statements were sufficient to prove the genuinety and for creditworthiness under Section 68 of Income Tax Act.
ITAT Held that discount on issue of ESOP is allowable as deduction under the head Profits & Gains of Business or Profession.
As per mercantile system of accounting, provision for expenses is an ascertained liability and the same is eligible for deduction while computing total income.
Dhaval R Ajmera Vs ITO (ITAT Mumbai) Though the assessee has raised several grounds, the only effective issue involved in the impugned appeal is as to whether the ld. CIT(A) was justified in confirming the disallowance of Rs.7,89,745/- on account of alleged purchase of shares through M/s. Alliance Intermediates and Network Private Limited and alleged […]
