Section 12 of Income Tax Act, 1961
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Corporate Law : Supreme Court held that jurisdiction under Article 142 of the Constitution of India invoked due to non-implementation of approved ...
Corporate Law : The application filed on 11th October, 2012 was not pressed and subsequently on 3rd July, 2013 another application was filed by th...
Company Law : NCLAT Delhi held that section 33 of Insolvency and Bankruptcy Code, 2016 (IBC) empowers the CoC to decide to liquidate the Corpora...
Goods and Services Tax : Further, in reference application filed under the Settlement Act, the Dy CST passed an order of settlement u/s 13(1) and arrived a...
Income Tax : Assessee was engaged in the business of purchasing and renting properties, as also the entire income of the assessee was based on ...
Supreme Court held that jurisdiction under Article 142 of the Constitution of India invoked due to non-implementation of approved resolution plan even after five years of the approval. Accordingly, it is directed that the corporate debtor be taken in liquidation.
Learn about taxation rules for unregistered charitable trusts under the Income Tax Act, 1961, including exemptions under Sections 11 & 12 and corpus fund taxation.
The application filed on 11th October, 2012 was not pressed and subsequently on 3rd July, 2013 another application was filed by the Respondents claiming compensation amount of USD 745580, maximum penalty of 50% and maximum interest of 12%.
NCLAT Delhi held that section 33 of Insolvency and Bankruptcy Code, 2016 (IBC) empowers the CoC to decide to liquidate the Corporate Debtor any time before the confirmation of the resolution plan by the Adjudicating Authority.
Further, in reference application filed under the Settlement Act, the Dy CST passed an order of settlement u/s 13(1) and arrived at the same figure of the settlement amount which were calculated by the assessee in its application.
Assessee was engaged in the business of purchasing and renting properties, as also the entire income of the assessee was based on the income received from leasing its properties.
Bombay High Court quashed the assessment order on account of breaching statutory provisions of section 23(4) of the MVAT; violation of the principles of natural justice and fair play, non-application of mind, and legal malafides.
The securities were treated as stock-in-trade in the hands of assessee. The amount received by assessee on the sale of the securities was considered for computing its business income.
Allahabad High Court held that if excess stock is found at the time of survey, then proceedings under sections 73/74 of the GST Act should be pressed in service and not proceedings under section 130 of the GST Act
Section 36(1)(vii) of ITA applied separately to non-rural debts, while Section 36(1)(viia) of the tax statute only applied to rural debts, making it clear that banks were entitled to claim both deductions, provided they pertained to different types of advances.
