Income Tax : This explains why recent income disclosure intimations lack statutory support and create uncertainty. The key takeaway is that vag...
Income Tax : Explains when home-loan interest can be added to the cost of acquisition and how the AY 2024-25 amendment blocks double benefits. ...
Income Tax : This guide explains the concept, calculation formula, and notified values of CII from 2001-02 to 2025-26, as per CBDT. A must-read...
Income Tax : Learn whether PMS fees can be deducted from capital gains under Section 48 of the Income-tax Act, 1961. This article explains the ...
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 : 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 : The issue was whether a share transfer without consideration constituted taxable capital gains. The Tribunal held that genuine fam...
Income Tax : The decision underscores that failure to follow the prescribed valuation procedure under section 50C leads to invalidation of addi...
Income Tax : The Tribunal held that enhancement of income without issuing notice under section 251(2) is invalid. Such action violates principl...
Income Tax : The case examined whether compensation paid to exit prior agreements was a sham arrangement. The Tribunal ruled it was a valid bus...
Custom Duty : The case addressed whether a custodian could be held liable for duty when container contents differed from declared goods. The Tri...
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...
ITAT Mumbai ruled that the date of a Letter of Intent (LOI), 14.02.2011, constitutes the date of acquisition for a flat, allowing indexation from that date for Long-Term Capital Gains computation.
NCLAT Delhi held that penalty as imposed by Competition Commission of India [CCI] on account of bid-rigging in soil testing tenders invited by Development of Agriculture, Government of Utter Pradesh against several companies and directors upheld.
ITAT Chandigarh held that execution of Joint Development Agreement [JDA] doesn’t constitute transfer of capital asset which would result in earning of capital gain. Accordingly, addition is deleted and appeal is allowed.
ITAT Delhi ruled that reassessment notices issued in July 2022 for AYs 2015-16 and 2016-17 were barred by limitation, citing a Supreme Court precedent.
The ITAT Mumbai ruled in favor of Bennett Coleman & Co. Ltd., holding that a further Section 14A disallowance is unwarranted when the assessee’s own disallowance exceeds the exempt income.
ITAT Bangalore held that interest on housing loan is allowed to be included in cost of acquisition of capital asset under section 48 of the Income Tax Act provided the same is not claimed as deduction u/s. 24(b). Accordingly, matter restored back to AO for verification.
Assessee’s remedy lied in recovering the amounts wrongly disbursed through the liquidation process, with the liquidator assisting in such recovery. Upon full satisfaction of the 1st Respondent’s dues, the attachment should stand vacated.
ITAT Chandigarh’s ruling in the CSJ Infrastructure tax case addresses the application of Section 43CA and the tax treatment of interest on land conversion fees.
The NCLAT has rejected an appeal by Technio Business Solutions, citing a lack of credible reasons for a 172-day delay in refiling. The court found the explanations to be baseless.
Learn whether PMS fees can be deducted from capital gains under Section 48 of the Income-tax Act, 1961. This article explains the conflicting judicial views and the required documentation.
