Corporate Law : Explore complexities of PMLA bail conditions, their impact on accused, and constitutional concerns. A comprehensive analysis sheds...
Income Tax : Explore Income-Tax Implications of Joint Development Agreements in Property Transactions. Unveil the complexities of Section 45(5A...
Income Tax : Learn how Joint Development Agreements (JDA) affect income tax under Section 45(5A) of the Income Tax Act. Understand calculations...
Income Tax : Dive into the Principle of Mutuality, exploring its meaning, tax implications, and impact on cooperative societies. Discover case ...
Income Tax : Any Profit or gain arising from the transfer of Capital asset is taxable as a Capital Gain u/s 45 of the Income Tax act, 1961. It ...
Income Tax : The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restric...
Income Tax : Bangalore ITAT held that allegations of capitation fee collections could not justify denial of exemption under Sections 11 and 12 ...
Corporate Law : An accused could not be kept in jail indefinitely in a money laundering case when the trial was unlikely to conclude within a reas...
Corporate Law : The SC held that the accused was not produced before the nearest Magistrate within 24 hours after the ED assumed custody, renderin...
Income Tax : The Mumbai ITAT held that ownership premises received under a redevelopment scheme are acquired in exchange for valuable tenancy r...
Corporate Law : Discover the implications of the government's notification on Section 64B of the Competition Act, effective from October 26, 2023....
Income Tax : It is noticed that the amount taxed under sub-section (4) of section 45 of the Act is required to be attributed to the remaining c...
Income Tax : CBDT vide Notification No. 76/2021-Income Tax | Dated: 2nd July, 2021 amends rule 8AA which relates to Method of determination of ...
ITAT Mumbai held that in the present case there is a surrender of tenancy rights against which a new flat has been allotted. Thus, deduction u/s. 54F admissible against the capital gain so computed on surrender of tenancy right.
The issue involved in the present petition is that the Electronic credit ledger of the petitioner was blocked by the impugned order dated 26.03.2025, by invoking Rule 86A of the Central Goods and Services Tax Rules, 2017.
ITAT Hyderabad held that denial of exemption under section 54F on allegation of more than one residential house unwarranted as one residential house is gifted to his daughter. Accordingly, exemption allowed and appeal of revenue dismissed.
Karnataka High Court held that blocking of Electronic Credit Ledger by invoking Rule 86A of the CGST Rules, 2017 without granting pre-decisional hearing and without providing independent or cogent reason in the order is not justifiable.
Punjab and Haryana High Court held that bail petition is the money laundering matter allowed due to long period of incarceration running for more than 01 year and trial having not been commenced before the trial Court.
ITAT Chennai held that waiver of amount of loan, whether principal or interest component, cannot be brought to tax under section 41(1) of the Income Tax Act. Accordingly, appeal of assessee allowed and addition directed to be deleted.
Madras High Court held that in re-assessment proceedings the objections of assessee should be dealt in accordance with GKN Driveshafts principle. Here, all the proceedings are set aside since the GKN Driveshafts principle has not been strictly adhered to.
ITAT Mumbai held that as per section 70(2) the short-term capital loss can be set off against gain from any other capital asset. Thus, set off of short-term capital loss (on which STT was paid) against the short-term capital gains (on which STT was not paid) is allowed.
Patna High Court held that GST is leviable on construction service rendered in lieu of the development rights under the Development Agreement. Accordingly, the present writ application is not entertained.
Delhi High Court granted bail granted to Chartered Accountant [CA] of entity found involved in money-laundering. Notably, bail is granted since trial in the present complaint case is yet to commence and would take some time to conclude.
