Scope of Section 56(2)(vi) - monthly amount was paid by way of ...

Monthly Alimony Payments Taxable Under Income Tax Act Section 56(2)(vi); Capital Accumulation Not Taxed.

January 19, 2014

Case Laws Income Tax AT

Scope of Section 56(2)(vi) - monthly amount was paid by way of alimony only because they were husband and wife in pursuance of divorce agreement is taxable - but accumulation of the same held as capital in nature not taxable - AT

View Source

← Previous Next →

Scope of Section 56(2)(vi) - monthly amount was paid by way of ...

Monthly Alimony Payments Taxable Under Income Tax Act Section 56(2)(vi); Capital Accumulation Not Taxed.

January 19, 2014

Case Laws Income Tax AT

You may also like:

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

Dispute regarding non-payment/short payment of service tax, tax demand and interest u/ss 73(2) and 75, penalties u/ss 77 and 78 of the Finance Act, 1994, and extended...

Advance tax payment obligation does not apply when assessee claims agricultural land sale proceeds are exempt u/s 2(14). CIT(Appeals) should admit appeal for...

Offence u/s 276(C)(2) and 277 - Allegation of willful tax evasion and non-payment of admitted tax - compounding application. The petitioner submitted income tax return...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Offence punishable u/s 276C(2) r.w.s. 278B of the Income Tax Act - Delay of 8 years in payment of tax - willful attempt to evade the tax or not? - Tax liability declared...

Allowance of standard deduction u/s 24(a), deduction for actual repairs, and deduction of accumulated income u/s 11(2) in the case of a charitable trust claiming...

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

Offence u/s 276C(2) - Default in payment of tax and payment of the tax in instalment - proof of mens rea - This Court is of the view that the prosecution in this case is...

Meaning of the term "Chief Commissioner" extended to include Director General of Income-tax and Principal Director General of Income-tax - Section 2(15A) of the...

Quick Updates: