Judgement

Absence of explicit dissolution or irrevocability clauses in trust deeds is not a valid ground for denying Section 12AB registration

High Court Says Trust Registrations Cannot be Rejected Over Lack of "Irrevocability Clause"

DCM Shriram Limited received Rs 9.79 crore relief from ITAT in a Rs 12.20 crore tax dispute for AY 2021-22, with the remaining Rs 2.41 crore remanded for fresh review.

DCM Shriram Secures Major Tax Relief of Rs 9.79 Crore in ITAT Ruling; Partial Matter Sent for Review

The Tribunal referred to a Supreme Court ruling that clearly states that if such payments are made after the due date under PF/ESI laws, they cannot be allowed as a deduction, even if they were paid before filing the return.

Delayed PF/ESI Employee Contributions Cannot be Allowed for Deduction Even if Paid Before Return Filing: ITAT

HC ruled that real estate developers must tax rental income from unsold stock as House Property income, not Business Income.

HC Rules Rental Income from Unsold Inventory Taxable as 'Income from House Property'

The tribunal noted that the assessee had filed the details of the cash deposits to substantiate his claim. Therefore, the addition was deleted.

ITAT Deletes Addition of Cash Deposits on account of agricultural income made During Demonetization

ITAT held that reassessment beyond three years is invalid if the alleged escaped income does not exceed the statutory Rs 50 lakh threshold under Section 149(1)(b).

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High Court Says Trust Registrations Cannot be Rejected Over Lack of "Irrevocability Clause"

DCM Shriram Secures Major Tax Relief of Rs 9.79 Crore in ITAT Ruling; Partial Matter Sent for Review

Delayed PF/ESI Employee Contributions Cannot be Allowed for Deduction Even if Paid Before Return Filing: ITAT

HC Rules Rental Income from Unsold Inventory Taxable as 'Income from House Property'

ITAT Deletes Addition of Cash Deposits on account of agricultural income made During Demonetization

Income Tax Section 149: Escaped Income Refers to Real Income, Not Gross Transactions