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Recent Posts

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Discussion / sec.56(2)(vii)
« Last post by sai prasad on February 22, 2019, 05:23:21 PM »
what is the latest position of the judgments on the deemed income of the difference between apparent consideration and market value of the property purchased in the hands of the purchaser
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Discussion / Re: Objection/Return in response to Notice 148
« Last post by Catomaca on January 25, 2019, 01:39:10 PM »
To receive information about this story until I saw it and wanted to occupy.
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Discussion / Loss on sale of pledged shares
« Last post by sanganeriask on December 05, 2018, 01:05:08 PM »
my client had pledged some listed shares to a financial institution for availing a loan. On failure to repay the loan the lender invoked the pledged shares and sold the shares thru stock exchange in their name and credited the proceeds in the loan account. My query is that whether the loss incurred on such sale is allowable to be set off with capital gain arising on sale of other shares on which STT is not paid.
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APPEAL AND CROSS OBJECTION BEFORE INCOME TAX APPELLATE TRIBUNAL
AMENDMENT IN FORM 36 AND 36A

CBDT has amended Income Tax Forms 36 and 36A (i.e. Form of Appeal / Memorandum of cross-objections to the Appellate Tribunal) vide Notification No.72/2018 dt.23 Oct. 2018 (Income-tax (10th Amendment) Rules, 2018) with immediate effect.


Pls click below link to open the PFD as well as word form

https://drive.google.com/open?id=1OvGTXrjMTcCoh8sbPgC3QrqwzqNBEE8T
https://drive.google.com/open?id=1lhz7PNiEb3sprSCiJs5-o2PJmgYhvj81
https://drive.google.com/open?id=1dTb2r0Un3z4fQS5P6aaXduc2MG5xsni1


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Thanks. This is a very important resource for practising professionals.
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Reference to Finance Bills, Finance Acts, Circulars explaining the provisions from 1936 to 2018

By
Neelam Jadhav, Advocate
(KSA Legal Chambers)

Introduction
The citations mentioned herein give the details of every finance Act and amendments, which have been reported in the ITR Journals, are very important. Hence, in this publication, an attempt has been made to give reference of the citations from the year 1936 till the year 2018

Click below link to see the details
https://drive.google.com/open?id=1rIx1ORVN300lJaSgFk_esKx0DgoOHtkh
   
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S. 250/ 254: If a decision is challenged by the assessee both on the issue of jurisdiction as well as on merits, the appellate authority has to decide both issues. He cannot decline to decide one of the issues on the basis that the decision on the other issue renders it academic. This approach leads to multiplication of proceedings and leads to delay

I.T.A. No.6098/Mum/2016

Income Tax Officer-12(3)(4), M/s. Mohanraj Trading & Exchange

following CIT vs Ramdas Pharmacy [1970] 77 ITR 276 (Mad)

http://itatonline.org/archives/ito-vs-mohanraj-trading-exchange-itat-mumbai-s-250-254-if-a-decision-is-challenged-by-the-assessee-both-on-the-issue-of-jurisdiction-as-well-as-on-merits-the-appellate-authority-cannot-decline-to/
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Please find an Analysis of Karnataka High Court's Verdict in case of Wipro Ltd at this link: https://www.linkedin.com/pulse/surprising-case-where-reputed-company-created-capital-nilesh/?published=t
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Discussion / Department successfully invokes GAAR in merger proccedings before NCLT
« Last post by Shakunca on October 16, 2018, 01:05:20 PM »
In case of Ajanta Pharma Ltd the NCLT has rejected a Scheme of Merger relying, among other things, on the Incxome-Tax Department's claim that GAAR was applicable. Please find a comprehensive analysis at this link: https://www.linkedin.com/pulse/even-before-starter-fires-starting-gun-income-tax-nilesh/
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Discussion / IDS 2016 and Double taxation - s.148
« Last post by rajul5234 on September 14, 2018, 03:51:55 PM »
M/s. M R Shah logistrics  Guj HC  SCA 21028/2017  Dt. 14/08/18

Held that reopening in company not maintainable for amount accepted in IDS 2016 in case of share applicant.

R K Patel
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