Treatment to loss from the unit in Trump Hotel International ...

Revenue Authorities Cannot Alter Settled Tax Issues if Facts Remain Unchanged: Trump Hotel International Case.

July 4, 2020

Case Laws Income Tax AT

Treatment to loss from the unit in Trump Hotel International under ‘income from other sources' - Although the principle of res judicata does not strictly apply to Income tax proceedings, the revenue cannot disturb and alter issues which have already been settled in previous years if there is no change in the facts and circumstances.

View Source

← Previous Next →

Treatment to loss from the unit in Trump Hotel International ...

Revenue Authorities Cannot Alter Settled Tax Issues if Facts Remain Unchanged: Trump Hotel International Case.

July 4, 2020

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...

Peak customs duty rates remains unchanged.

The Direct Tax Vivad Se Vishwas Act, 2020 aims to settle tax disputes. The term "appeal" under the Act includes writ petitions challenging tax orders, as per Supreme...

Reopening of assessment u/s 147 - addition as concealed income u/s. 69 - The fact that the assessee has consistently alleged connivance of the bank authorities coupled...

Extended period of limitation - The very fact that the appellant is contesting the issue of invoking larger period of limitation, that the rendering of service under the...

When assessee allotted plot by Noida Authorities, entered agreement to sell on 07.02.2003 receiving Rs. 4,50,000/-, remaining Rs. 4,76,000/- paid to Noida Authorities as...

Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

Extended period of limitation - manpower recruitment or supply agency service - separate employment contract with foreign expatriates - even if it were to be assumed...

Deduction of broken period interest paid on securities and deduction of expenditure incurred on the issue of Fully Convertible Debentures (FCDs). Regarding broken period...

Penalty levied u/s 271B - tax audit report - In our view, strained relationship with the earlier CA would constitute reasonable cause. The tax authorities have pointed...

Invocation of Extended period of Limitation - Evasion of service tax - The court found that invoking the extended period was inappropriate since the respondent had...

Levy of service tax - tour operator service - It is the hotel that has provided the service of short-term accommodation to the customers, and the appellant has merely...

Control of income-tax authorities - U/s 118 of IT ACT 1961 - Specifies the income-tax authority or authorities as subordinate to such other income-tax authority or...

Taxpayer sold shops during AY 2017-18 and reported gains as Long Term Capital Gains (LTCG) in tax returns. While AO initially accepted this classification under section...

The High Court disposed of the writ petition, modifying the requirement to deposit only 10% of the remaining disputed tax amount for the impugned order to remain stayed....

Quick Updates: