Direct Tax
Mere Loose Papers Not Admissible Evidence For Making Income Tax Addition: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that loose papers cannot be considered as admissible evidence for making an addition...
Delhi High Court Quashes Reassessment Against Departmental Stores Selling Wine, Beer
The Delhi High Court has quashed reassessment against departmental stores selling wine and beer.
The bench of Justice Vibhu Bakhru and Justice Tushar Rao Gedela...
Compensation For Compulsory Acquisition Of Landed Property Is Income Under Capital Gains: Kerala High Court
The Kerala High Court has held that amount received as compensation for compulsory acquisition of landed property is income under capital gains.
The bench of...
Sub-Registrars To Report Cash Payments of Rs. 2 Lakh and Above In Property Deals To Income Tax Dept.: Supreme Court
The Supreme Court directed the sub-registrars to report cash payments of Rs. 2 lakh and above in property deals to the income tax department.
The...
Compensation For Delay In Property Handover By Builder Not Taxable: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the compensation for delay in property handover by builder is not taxable...
No Capital Gain Tax Payable By NRI On Mutual Fund Gains: ITAT [READ ORDER]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that no capital gain tax payable by Non-Resident Indian (NRI) on Rs. 1.35...
S. 271(1)(c) Penalty Not Applicable On Voluntary Surrender, Bonafide Mistake: Chhattisgarh High Court
The Chhattisgarh High Court has issued the clarification on the penalty under Section 271(1)(c) while emphasizing on voluntary surrender and bonafide mistake.
The bench of ...
DRI Officer Among Eight Arrested; Punjab Police Bust Pakistan-Backed Drug Cartel
In a major crackdown on drug smuggling, the Punjab Police has successfully dismantled a Pakistan-backed drug cartel, arresting eight key operatives, including a Directorate...