Delhi High Court held that exemption under section 54F of the Income Tax Act is allowed towards different floors of a house considering it as single residential house. Accordingly, appeal of the revenue dismissed.
ITAT Pune ruled for Yash Construction Co., holding that declared income during survey, if linked to business, cannot be taxed at higher rates under Section 115BBE.
ITAT Pune rules for Late Harilal Mavjibhai Patel, confirming excess stock found during survey is business income, not subject to higher tax rates under Section 115BBE.
ITAT Mumbai rules in favor of Piem Hotels, overturning Section 14A disallowance for AY 2014-15 & 2016-17 due to AO’s lack of recorded satisfaction.
Allahabad High Court rules GST registration cancellation invalid if grounds in final order differ from the show cause notice, emphasizing natural justice and due process.
This case examines whether extensive hotel renovations are revenue or capital expenditures under the Income Tax Act, analyzing arguments from the Revenue and the assessee, and referencing key court decisions.
ITAT Ahmedabad rules Section 56(2)(x) applies to agricultural land. Assessee’s dispute on stamp duty valuation mandates DVO reference. Case remanded for re-evaluation.
ITAT Chennai held that liability to deduct Tax Deduction at Source [TDS] arise only on the amount of actual payment and not on the provision made. Accordingly, TDS liability reduced to that extent and appeal partly allowed.
Chhattisgarh High Court held that reasonable cause has been shown for non-compliance with the provisions contained in Section 269T of the Act and further it is not disputed that the transaction is genuine and bona fide.
A recent advance ruling in Tamil Nadu clarifies GST liability on corpus/sinking funds collected by Resident Welfare Associations and their eligibility for Input Tax Credit.
