Flipkart India Private Limited vs. ACIT (Karnataka High Court) The applicant raised the contentions in support of the petition for stay of demand: The Issue:... Read More
The Central Board of Direct Taxes has made an announcement vide press release dated 30.12.2015 with respect to the Procedure for electronic filing of appeal... Read More
Assessee allowed to claim exemption u/s 54F for multiple flats if located at same address In the Case of CIT Vs Shri Gumanmal Jain (Madras High Court),... Read More
Assessee not indebted for providing the facility for conducting the survey if not asked for
3 min read
Income Tax Appellate Tribunal Amritsar Bench in a thought-provoking decision of Smt. Kailash Devi ITA 347/ASR/ 2015 manifested on 05-04-2016 on conducting the survey and... Read More
Section 153C – Under this provision provides for the procedure for assessment of income of any other person. Section 153C (1) provides that notwithstanding anything... Read More
CBDT circular on Taxability of compensation received on compulsory acquisition of Agricultural land
4 min read
With the help of Circular No. 36/2016, The Ministry of Finance has cleared all the doubts and clarified that receipt of compensation in case of compulsory acquisition... Read More
It has been revealed that the new provisions in GST laws will give sweeping investigating powers over small businesses. This is, in fact, a great... Read More
The central Board of Direct Taxes (CBDT) has clarified that the compensation received against acquisition (Including compulsory acquisition) of non-agricultural land is exempt from the... Read More
The date of pronouncement of this case was December 23, 2016 and it was published on December 29, 2016. The high court had to consider... Read More
The Income Tax department has given a signal for strong action against those who undertake Benami transactions. Those who undertake Benami Transactions would be chargeable... Read More