Revision u/s 263 - Tax liability of award received by the ...

Tax Exemption Error: Section 263 Revision on Company's Land Award Due to Missing Govt Notification Under RFCTLARR Act.

August 23, 2023

Case Laws Income Tax AT

Revision u/s 263 - Tax liability of award received by the assessee company on the acquisition of its lands under the NHAI Act, 1956 - absence of notification issued by the Central Government in terms of subsection (3) to Section 105 of the RFCTLARR Act, 2013 - AO had summarily accepted its aforesaid claim for exemption from tax, therefore, the same had rendered the order passed by him u/s. 143(3) as erroneous - AT

View Source

← Previous Next →

Revision u/s 263 - Tax liability of award received by the ...

Tax Exemption Error: Section 263 Revision on Company's Land Award Due to Missing Govt Notification Under RFCTLARR Act.

August 23, 2023

Case Laws Income Tax AT

You may also like:

The Supreme Court held that the acquisition proceedings failed to comply with the statutory requirement of paying full and final compensation to the landowners before...

Nature of land - capital gain on sale of land - exemption u/s 10(37) - assessee's agricultural land was compulsorily acquired by following entire procedure prescribed...

Recovery of dues from company - employees dues - priority claim on debts - - Section 529A of the Companies Act, which gives workers’ dues a priority over all other...

Additions towards Entry Tax Exemption - As held in the various decisions, it is not relevant what mechanism was adopted by the State Govt. to award the incentive, but...

Benefit of exemption u/s 10(37) - the exemption provided u/s 96 of the Act is wider in scope than the tax exemption provided in the existing provisions of the Income Tax...

Capital gain arising on transfer of land - STCG arising out of the transfer of non-agricultural land - real owner - The appellant asserts that the land was purchased on...

Capital gain computation - real owner of asset - the land was purchased in the individual name of the assessee, and not as director of the company. Funds for the purpose...

Compensation received under an award passed by the Land Acquisition Officer u/s 24(1) of the Right to Fair Compensation and Transparency in Land Acquisition,...

Deduction of 10% of the amount awarded to the award-holder as TDS and payment of the balance amount to the award-holder - Arrears of salary and interest - award-debtor,...

Exemption from payment of sales tax - poultry farm on leased land - exemption was rejected on the ground that the assessee was not the owner of the land where the farm...

This case deals with the taxability of compensation paid to landowners for land acquisition. The court held that u/s 96 of the Right to Fair Compensation and...

Enforceability of part of the Foreign Award - A significant aspect of the Foreign Award is that it does not provide for a setoff. - f a set-off that enured to the...

Recovery of tax dues of the company from personal assets of the Director - Application of the doctrine of lifting the corporate veil - vicarious liability of petitioner...

Service Tax Liability - the appellant is a company incorporated under Companies Act, 1956 and acted as agent on behalf of the Chhattisgarh Govt. which authorised it to...

Tribunal clarified that its order dated 26.05.2022 did not modify or vary the earlier orders dated 15.10.2018 and 11.01.2019, except for directing sealed cover...

Quick Updates: