Hindu Succession Act: Hindu Daughter after Converting to Islam Not Loses Right to Inherit Property

Nayanben Firozkhan Pathan Vs Patel Shantaben Bhikhabhai (Gujarat High Court)

A change of religion and loss of caste was at one time considered as grounds for forfeiture of property and exclusion of inheritance. However, this has ceased to be the case after the passing of the Caste Disabilities Removal Act, 1850. Section 1 of the Caste Disabilities Removal Act inter alia provides that if any […]...

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Deduction u/s 54F on more than one residential flats received by virtue of a development agreement is allowable

Mrs. Adeebunnisa Begum Vs. ITO (ITAT Hyderabad)

Assessee was entitled to deduction u/s 54F of the Act in respect of more than one residential flats received by virtue of a development agreement. We find that this issue is now fairly covered by the decision of various High Courts in favour of the assessee....

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Bad Debts deductible if same been taken into a/c in computing income of an earlier previous year

Stock point Share Services Private Ltd Vs. The Assistant Commissioner Of Income Tax (Kerala High Court)

In Stock point Share Services Private Ltd v. ACIT, Justices Antony Dominic and Dama Seshadri Naidu of Kerala High Court held that in order claim deduction in respect to bad debts under section Section 36(1)(vii) of the Income Tax Act, the assessee has to fulfill two conditions, i.e, (i) the bad debt has been written off and (ii) that the ...

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Permanent Establishment: A Recent Decision of Hon’ble Supreme Court

Formula One World Championship Ltd. vs. CIT International Taxation (Supreme Court)

In brief, the learned Judges of the Supreme Court held that FOWC carried on business in India for the duration of the race (and for two weeks before the race and a week thereafter). A PE must have three characteristics: stability, productivity and dependence....

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Section 2(47) no transfer by Mere entering in Development agreement

Rukiyabanu Gullam Mohiuddin Ahmedji & Anr. Vs CIT (ITAT Mumbai)

Admittedly, possession of the property was not handed over during assessment year 2008-09 and mere execution of agreement for the development of the property could not amount to transfer under section 2(47) of the Act row with section 53A of the transfer of property Act are satisfied as such there can no transfer be considered in the year...

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Service Tax on Merger and Acquisition Services not leviable before 16th July 2001

Commissioner of Central Excise, Customs & Service Tax Vs M/s. Kotak Mahindra Capital Co. Ltd. (Bombay High Court)

We are disposing of the above Appeals preferred by the Revenue by this common order and judgment. The above Appeals have challenged the impugned orders passed by the Customs, Excise and Service Tax Appellate Tribunal, Mumbai (for short Appellate Tribunal) dated 3rd February 2016 in Central Excise Appeal No. 3 of 2017 and 11st January 2016...

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HC set aside order passed by Tribunal without application of Mind

Thyrocare Technologies Limited Vs. The Income Tax Officer (Bombay High Court)

HC held that We do not see how it is possible for us to uphold the order of the Tribunal and when it purports to decide two Appeals of the Revenue by single paragraph conclusion. There is absolutely no discussion of the law and why the co­ordinate Bench decision rendered at Delhi is either distinguishable […]...

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Section 50C applies even to Unregistered Transfer of Capital Assets

Commissioner Of Income Tax- 6 Vs. M/s. Akash Association (Gujarat High Court)

Justices Akil Khureshi and Biren Vaishnav, in a recent ruling, held that section 50C of the Income Tax Act is applicable to a case where even a case where the document evidencing transfer of the capital asset has not been presented for registration...

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Penalty U/s. 271AAA not leviable on Failure to ask question regarding manner of earning of income

ACIT Vs Shreenarayan Sitaram Mundra (ITAT Ahmedabad)

The present appeal by the Revenue is directed against the order of the Commissioner (Appeals)-II, Ahmedabad [CIT(A) in short] dated 30-9-2013 for the assessment year (AY) 2010-11 wherein penalty imposed under section 271AAA of the Income Tax Act, 1961 (hereinafter referred to as the Act) Rs. 20 lakhs was deleted by the Commissioner (Appea...

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Final occupation date to calculate Purchase date for section 54F exemption allowed

Smt Ramita Mahendra Mehta Vs Income Tax officer (ITAT Mumbai)

This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals) -20, Mumbai dated 17.04.2014 for the Assessment Year 2010-11. The only grievance of the assessee in his appeal is that the Ld.CIT(A) erred in denying the deduction u/s 54 of the Act....

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