Courts: ITAT Mumbai
5,841 articlesCA, CS, CMA
CA, CS, CMA
ITAT tone down its Remarks Against Chartered Accountants and ICAI
Income Tax
Income Tax
Gain on transfer of capital assets to wholly own subsidiary is not INCOME at all in Income Tax Act. Hence, even MAT is not applicable
Income Tax
Income Tax
S.54 Exemption on advance to builder- Non completion of construction & transfer of title
Income Tax
Income Tax
If substantial amount for new property is paid, exemption u/s 54 is available even if actual construction is not completed
Income Tax
Income Tax
AO cannot make adjustment to book profits certified by auditors to be computed as per prescribed accounting norms
Income Tax
Income Tax
Intention of letting out property is to be seen for section 23(1)(c)
Income Tax
Income Tax
No disallowance of interest for loan advanced to Sister Concern out of Share Capital and Reserves
Income Tax
Income Tax
Penalty cannot be imposed for mere non acceptance of claim made by Assessee
Income Tax
Income Tax
Rebate u/s 88E is allowable from the business income be it speculative or not
Income Tax
Income Tax
Entrance fee paid to golf association in order to develop contacts with other corporate leaders is allowable business expenditure
Income Tax
Income Tax
No concealment of income by the assessee if addition is merely based on deeming provision of sec 50C
Income Tax
Income Tax
Penalty u/s 271(1)(C) not leviable if substantial question of law exists
Income Tax
Income Tax
Income under any head of income is to be computed following the computation provisions only
Income Tax
Income Tax
