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Latest judgements uploaded (See all
INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH
: Issue- The addition of share application money received amounting to Rs 8,13,29,600 invoking section 68 of the Act, in proceedings u/s 147/148. CIT(A) deleted the addition however, the Hon'ble ITAT vacate the relief granted by the learned CIT(A) and restore the impugned additions made by the Assessing Officer. In this case the assessment was reopened… Read More ...
: *S. Karthik & Ors Vs N Subhash Chand Jain & Ors* *Forum-Supreme Court of India* *Date-23rd September,2021* *Sub-How an ingenious litigant, by taking recourse to a series of proceedings one after the other, has been successful in blocking the enforcement of a security interest, created in favour of a secured creditor, thereby defeating the very… Read More ...
: S. 41(1) : Profit Chargeable to tax - Remission or cessation of trading liability-Amounts not written off-matter sub-judice before Hon'ble High Court - No addition can be made- Department should be more careful while filing the appeal before the Appellate Tribunal where the facts are undisputed. The Hon'ble ITAT Mumbai in a Departmental appeal challenging… Read More ...
Latest articles published (See all
By Narayan Jain, LL.M., Advocate
: A will or testament is a legal document by which a person, the testator, expresses his wishes as to how his property is to be distributed after his death. He also names one or more persons, to act as the executor, to manage the estate until its final distribution. For the devolution of property not… Read More ...
By CA. Rajesh Mehta
: Taxation of partnership firms has always been a controversial issue specially with reference to taxability of withdrawal of capital over and above the balance by partners at the time of retirement or receipt of money or assets on reconstitution or dissolution of a partnership firm. Partnership and Partner As per Sec 4 of the Partnership… Read More ...
By Justice R. V. Easwar, (Former Judge, Delhi High Court), Senior Advocate assisted by Advocate Aditya Ajgaonkar
: The first seeds of the modern-day system of direct taxation in India, as we know it, were sown by the British. Tax on income was introduced into India by Sir James Wilson and a separate Income Tax Act was passed in the year 1886. This was then replaced by an Act passed in 1918. The… Read More ...