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Once ITO Accepts Rate At Which Closing Stock Was Valued, No Addition To Net Profit Can Be Made Without Recomputing Trading Result U/s 145(1): Punjab & Haryana HC

Finding that the stock production and consumption records were maintained under the supervision of the Excise Authorities and there is no objection raised with regard to the said stock by the ITO, the...

Haryana , India , Justice-sudeepti-sharma , Punjab-haryana-high-court , High-court , Excise-authorities , Haryana-high-court , Assessing-officer , Division-bench , Justice-sanjeev-prakash-sharma , Income-tax , Income-tax-authorities

Taxing Unsold Flats In Real Estate Business Applicable From AY 2018-19; ITAT Deletes Notional Rent Addition For AY 2014-15

Taxing Unsold Flats In Real Estate Business Applicable From AY 2018-19; ITAT Deletes Notional Rent Addition For AY 2014-15
livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.

Mumbai , Maharashtra , India , Andheri , Himanshus-sinha , Sunil-kumar-singh , Narendra-kumar-billaiya , Mumbai-bench , Income-tax-appellate-tribunal , Judicial-member , Accountant-member

Penalty Order On Ground Of Misreporting Of Income Not Justified When SCN And Assessment Order Alleged Under-Reporting: ITAT

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty order on the ground of misreporting of income was not justified when show cause notice and the assessment order...

Hyderabad , Andhra-pradesh , India , Delhi , Hyderabad-bench , Income-tax-appellate-tribunal , Laliet-kumar , Judicial-member , Assessing-officer , Income-tax-act , For-appellant

The Complete Supreme Court Annual Digest- 2023 [Part-XI]

Eyewitness Merely because there are certain lacunae in the investigation, it cannot be a ground to disbelieve the testimony of eye-witnesses. (Para 47) Madan v. State of Uttar Pradesh, 2023...

State-of-goa , Goa , India , State-of-west-bengal , West-bengal , Oman , Madras , Tamil-nadu , Delhi , State-of-tamil-nadu , Haryana , State-of-karnataka

Assessee's Failure To Establish Genuineness Of Transaction With Cogent And Credible Evidence, Calcutta High Court Upholds Addition

The Calcutta High Court has held that merely proving the identity of the investors does not discharge the onus on the assessee if the capacity or credit worthiness has not been established.The bench...

Calcutta , West-bengal , India , Justice-ts-sivagnanam , Justice-hiranmay-bhattacharyya , Narayan-rai , Calcutta-high-court , Income-tax-act , Assessing-officer , For-appellant , Enuineness

Income Tax Addition Can't Be Deleted For Sole Reason Of Erroneously Mentioning Section: ITAT

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the addition cannot be deleted for the sole reason that the section under which the addition is made is mentioned erroneously and...

Mumbai , Maharashtra , India , Kinjal-bhuta , Mumbai-bench , Income-tax-appellate-tribunal , Anikesh-banerjee , Judicial-member , Accountant-member , Assessing-officer , Income-tax

Tata Steel Entitled To Treat Contribution Of Rs. 212.52 Crores To CAF As Revenue Expenditure: Bombay High Court

The Bombay High Court has held that Tata Steel is entitled to treat the contribution of Rs. 212.52 crores to the Compensatory Afforestation Fund (CAF) as revenue expenditure.The bench of Justice K. R....

Bombay , Maharashtra , India , Suresh-kumar , Justicekr-shriram , Prafullar-hede , Tata-steel , Compensatory-afforestation-fund , Bombay-high-court , Bombay-high-court-goa-bench , Justice-neela-gokhale , Goa-bench

New procedure developed to pay taxes on cryptocurrency

The Israeli Tax Authority has developed a new procedure for the good guys to pay tax on their virtual currency gains.

Jerusalem , Israel-general- , Israel , Israeli , Anti-money-laundering-authority , Israeli-tax-authority , Israeli-police , Distributed-payments , Tax-form , Tax-authorities , Assessing-officer

S.132B(1)(i) Income Tax Act | Power Of Assessing Authority To Decide Application For Release Of Seized Assets Not Automatically Abated After 120 Days: Allahabad HC

The Allahabad High Court has held that the jurisdiction of the Assessing Authority to decide the application for release of seized assets under Section 132B (1)(i) does not abate after a period of 120...

Allahabad , Uttar-pradesh , India , Kolkata , West-bengal , Mirzapur , Dipak-kumar-agarwal , Cowasjee-nusserwanji-dinshaw , Justice-saumitra-dayal-singh , Justice-surendra-singh , Manbodhan-lal-srivastava , Allahabad-high-court

Bombay High Court Weekly Round-Up: April 08 To April 14, 2024

Nominal Index [Citation 188 - 199] Kalpita Arun Lanjekar v. Income Tax Officer 2024 LiveLaw (Bom) 188 PCIT v. M/s. Tata Capital Ltd. 2024 LiveLaw (Bom) 189 Sarang Wadhawan v. Directorate of...

India , Mumbai , Maharashtra , Goregaon , Bandra , Bombay , Nagpur , Ahmedabad , Gujarat , Hindustan , India-general- , Sharmila-ghuge