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Latest judgements uploaded by visitors (See all)
CIT v. Jalaram Jagruti Development Pvt. Ltd (Bom) (HC)
The Hon'ble Bombay High Court has held that In course of search, note book and lose paper were found and seized. The assessee did not offer the unaccounted cash receipts as found recorded in the seized documents. The Assessee followed project completion method of accounting and offered it to tax in the year of completion of project. It was held, the receipts in… Read More ...
ITO v. Nidhi Premises Pvt. Ltd.
The ITAT-Mumbai has held that For the purpose of exceptions to low tax effect Circular No. 17/2019 dated 08.08.2019 issued by CBDT 1. Information received from DIT(Investigation) being an interal wing of Income Tax department cannot be treated as an external source and hence not covered by exception to Circular. 2. Circular No. 23/2019 r.w. OM dated 16.09.2019 applies only… Read More ...
Network Construction Company vs. ACIT, Circle – 2, Thane
The Income tax Appellate Tribunal -Mumbai Bench has held that Where the assessee purchased development rights, entered into a Joint Venture agreement, and agreed to contribute the said development right as ‘capital contribution’ at an agreed consideration to the AOP. The Assessing Officer while framing assessment treated transfer of the development rights under Section 50C of the Act. The Tribunal held that the introduction of… Read More ...
Latest articles published by visitors (See all)
WHY BANKS FAIL IN INDIA
By T S Ramani: The FRDI BILL should include the creditors also, in running/ managing the banks. A Legal Provision has to be created in the FRDI BILL by legislature/ government/ regulator to give the creditors option of representation in the management of these banking businesses in a quid pro quo for bail-ins as an equitable first principle. The… Read More ...
Pre-Covid Presumptive Incomes – Not a Valid Presumption for Post-Covid Era
By CA Rakesh Kedia: Tax laws need to be responsive to the prevailing economic situation. Government has made number of changes in Income Tax Law to make it fall in line with the changed economic scenario on account of pandemic. However, presumptive taxation has not yet caught the attention of government. The reduction in presumptive income will go a… Read More ...
NON-RESIDENT INDIAN’S WILL तथा अनिवासी भारतीयाचे इच्छा पत्र
By dinkar parasharam bhave , advocate Bombay High Court : Executive Summary: An elixir of immortality is more philosophical than practicable. No one can have eternal life. So, one has to plan about one’s exit leaving behind all material gains like movable/immovable property to survivors, kith and kin. A citizen of India having chosen to stay abroad for an employment or other purposes may have… Read More ...