Bombay HC held that an unintentional error on the part of assessee while filling an appeal, more so when the department also acted ignoring the error, would not result in rejecting assessee’s appeal being time barred.
Section 68. Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not
Sec 145A(a)(ii) has no applicability on service revenue which follows that service revenue need to be inclusive of service tax. It also held that service tax which has not even been claimed as deduction cannot be disallowed by recasting profit and loss account of assessee.
In this case Punjab & Haryana High Court upheld the The law laid down in Visvesvaraya Technological University vs. ACIT 384 ITR 37 (SC) that generation of surplus is not fatal to the grant of exemption under section 10(23C)(vi)(via)/ 80G of Income Tax Act, 1961 if such surplus is utilized for charitable purposes. In this […]
For determination of capital gains according to section 50C market value of property as on date of sale deed or stamp duty value as on date of agreement to sale: which has to be taken?
In case a copy of the FIR is not provided on the ground of sensitive nature of the case, a person grieved by the said action, after disclosing his identity, can submit a representation to the Superintendent of Police or any person holding the equivalent post in the State.
Whether an agricultural land held by assessee, which is suitable for agricultural operation, loses the characteristics of agricultural land merely because no agricultural operation was carried by assessee on such land?
The employer i.e. ONGC has paid fringe benefit u/s 115WA of the Act to the employee and thus, the employee was not bound to pay tax on the aforementioned expenses, as a part of his salary.
National Anthem should not be utilized by which person involved with it either directly or indirectly shall have any commercial benefit or any other benefit.
SC held that income from tips would be chargeable in the hands of employees as income from other sources, such tips being received from customers and not from employer
