Income Tax : Summary: As per the Finance Act 2024, the long-term capital gains (LTCG) tax on listed securities has been raised from 10% to 12.5...
Income Tax : The 2024 budget introduces changes in capital gains tax for immovable property, removing indexation and offering two tax options f...
Income Tax : Section 50C: For property sales, if the sale price is lower than the value assessed by Stamp Valuation Authority, that value is co...
Income Tax : Explore the significant changes in capital gains taxation proposed in Budget 2024, including revised tax rates, holding periods, a...
Income Tax : Article discusses Meaning of Cost Inflation Index (CII) which is used for Computation of Long Term Capital Gain. Cost Inflation in...
Income Tax : Calculate Long term capital gain on sale of capital Assets other then shares with the help of Indexation.- We have given below the...
Income Tax : ITAT Kolkata held that in terms of block assessment under section 153A of the Income Tax Act, reopening of unabated assessment wit...
Corporate Law : After the Judgment of the Hon’ble Supreme Court I.A. 961/2024 was filed by the RP before the Adjudicating Adjudicating Authority...
Income Tax : ITAT Mumbai held that the deeming fiction of section 50C Income Tax Act cannot be extended while working out the written down valu...
Income Tax : ITAT Kolkata held that interest expenditure incurred on loans taken for acquiring property is allowable as deduction under section...
Income Tax : Delhi High Court held that dismissed the petition as adequate efficacious alternative remedy is available by way of filing an appe...
Corporate Law : Explore the new Competition Commission of India (CCI) Lesser Penalty Regulations 2024. Learn about conditions, procedures, and ben...
Custom Duty : Stay informed about the Union Budget 2024-25 changes in ICES. Learn how the Directorate General of Systems manages updates and the...
Explore the new Competition Commission of India (CCI) Lesser Penalty Regulations 2024. Learn about conditions, procedures, and benefits for cartel disclosure and reduction in penalties.
ITAT Mumbai held that exclusion of comparables for the reason that those companies are loss making or low profit making is not correct. Accordingly, TPO directed to include these comparables and re-compute the Arm’s Length Price (ALP).
Mumbai ITAT reiterates Sec 50C(1) as a measure against tax evasion by undervaluing property sales, emphasizing its retrospective application.
Read the detailed analysis of CPF (India) Private Limited Vs ACIT case where Madras High Court annulled assessment proceedings due to violation of Sec 144B procedure.
Stay informed about the Union Budget 2024-25 changes in ICES. Learn how the Directorate General of Systems manages updates and their impact on customs procedures.
Gujarat High Court held that charge in favour of secured creditor would precede over the unsecured creditor. Thus, secured creditor will have first charge over the property as against State Government (crowns debt).
ITAT Hyderabad held that as the parties have entered into registered Joint Development Agreement (JDA) on 04.04.2007 and the “Group of assessee” have also handed over possession to the TBPD pursuant to the agreement. Hence, transfer took place in the assessment year 2008-09.
ITAT Hyderabad held that transfer of assets of the partnership to the retiring partners would amount to the transfer of the capital assets in the nature of capital gains and business profits which is chargeable to tax under section 45(4) of the Income Tax Act.
NCLT Delhi held that an amalgamation of a Sole Proprietorship Firm with a Company is not permissible under the law. Thus, Merger and Amalgamation of sole proprietorship firm and company is not possible u/s 232 of Companies Act, 2013.
ITAT Chennai held that disallowance of interest u/s 36(1)(iii) of the Income Tax Act on loans and advances given to subsidiary company unjustified as investment in subsidiary is purely for commercial expediency.
