Home Highlights May 2013 Year 2013 This

You may also like:

1. Set off of Unabsorbed depreciation as on April 1, 1997 can be set off against the income from any head for the immediate assessment year following April 1, 1997...

2. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

3. Penalty u/s 271(1)(c) - proof of contravention of provisions provided under explanation 5A to section 271(1)(c) - On reference to the provisions of explanation 5A to...

4. Capital gain - period of limitation for deposit the amount in Capital Gain Account Scheme - Sub-Section (4) of Section 139 provides extended period of limitation as an...

5. Industrial gala sold - taxation as STCG or LTCG - The entire payment as per the agreement was in fact made before financial year 1998-99. Occupation certificate was also...

6. Goodwill v/s non compete fee - The reliance placed by the Assessing Officer on Section 55(2)(a) of the Income Tax Act was repelled by the Tribunal rightly on a plea that...

7. Disallowance of depreciation - assessee had claimed 100 percent depreciation as the project was completely abandoned later in the year 1999. Since the machinery was...

8. Levy of penalty u/s 271 (1)(c) - Effect of amendment to clause 3 (iii) and Explanation 4 to section 271(1)(c) - SC confirmed the order of HC imposing penalty wherein it...

9. Assessee claimed deduction u/s 54F for amount deposited in Capital Gain Account Scheme (CGAS) on transfer of capital asset. Unutilized amount withdrawn from CGAS account...

10. Reassessment - The statute having thus fixed the assessment year in which the entire past accumulated income falls to be taxed, it is impermissible in law for the...

11. Reasonable time limit for issuing notice u/s 201(1)/201(1A) is 4 years, as held in GE India Technology Centre and Mahindra & Mahindra Ltd. judgments. Where notice is...

12. Voluntary surrender of income by assessee cannot be considered concealment. AO failed to prove concealment, merely concluded voluntary surrender as concealment....

13. MAT Computation of book profit u/s 115JB - Disputed central excise demand raised against the assessee - denial of writing back benefit to the assessee - We appreciate...

14. Sale of self-developed technical know-how - whether chargeable to tax - AO held as revenue receipt - ITAT held that appellant was liable for capital gains tax in view of...

15. Validity of GST registration certificate granted w.e.f 1.6.2018 instead of with retrospective effect i.e. 1.7.2017 - Whereas GST liability confirmed w.e.f. 1.7.2017 -...