Tenet Tax Daily February 07 2019
No sec. 54F relief on cost of land of newly constructed house if it was purchased 1 year before sale of capital asset
No sec. 14A disallowance unless there is receipt of exempt income during the year
Tenet Tax Daily February 06 2019
SetCom application not allowable as assessee clubbed diff. shareholdings to demonstrate substantial interest;
Tenet Tax Daily February 05 2019
Provision for payment of salary arrears not allowable if same hadn’t crystalised during the year: ITAT
Tenet Tax Daily February 04 2019
Reassessment justified on info. received from investigation wing that assessee raised false claim of LTCG exemption
Tenet Tax Daily February 02 2019
Sec. 12AA registration couldn’t be rejected on ground that assessee was engaged in education with profit motive
Tenet Tax Daily February 01 2019
Benefit of vacancy allowance was available if assessee made appropriate efforts in letting out property: ITAT
Tenet Tax Daily January 31 2019
Assignment of leasehold rights couldn’t be held as transfer if agreement wasn’t registered: ITAT
Tenet Tax Daily January 30 2019
Share allotment under ‘rights issue’ not taxable u/s. 56(2)(vii)(c) if shareholders were relatives : ITAT
Tenet Tax Daily January 29 2019
Interest couldn’t be disallowed on mere presumption that assessee would earn tax-free dividend in future
Tenet Tax Daily January 28 2019
Penalty for late filing of ITR couldn’t be deleted just because ITR of previous year was filed belatedly
Tenet Tax Daily January 26 2019
HC justified 50% disallowance as assessee failed to prove that promotion exp. was incurred for business purpose
Tenet Tax Daily January 25 2019