See the footer if you would like to unsubscribe from the newsletter
Dear Subscriber,
Latest:
Dear Subscriber,
Raj Pal Singh vs. CIT (Supreme Court)
S. 45 Capital Gains: In matters relating to compulsory acquisition of land under the Act of 1894, completion of transfer with vesting of land in the Government essentially correlates with taking over of possession of the land under acquisition by the Government. However, where possession is taken over before arriving of the relevant stage for such taking over, capital gains shall be deemed to have accrued upon arrival of the relevant stage and not before. To be more specific, in such cases, capital gains shall be deemed to have accrued: (a) upon making of the award, in the case of ordinary acquisition referable to Section 16; and (b) after expiration of fifteen days from the publication of the notice mentioned in Section 9 (1), in the case of urgency acquisition under Section 17 (All imp judgements referred) For chargeability of income-tax, the income ought to have either arrived or accrued. In the matter of acquisition of land under the Act of 1894, taking over of possession before arrival of relevant stage for such taking over may give rise to a potential right in the owner of the property to make a claim for compensation but, looking to the scheme of enactment, it cannot be said that transfer resulting in capital gains is complete with taking over of possession, even if such taking over had happened earlier than the point of time of vesting contemplated in the relevant provisions
Bombay High Court To Resume Hearing Of Tax Matters through Video Conferencing w.e.f. 31.08..2020 To 30.09.2020
In order to reduce the physical presence of lawyers, litigants and Court staff due to outbreak of COVID-19, IT IS HEREBY NOTIFIED for the information of the Advocates and the parties appearing in-person that the Hon'ble The Chief Justice has been pleased to nominate the following Hon'ble Judges to hear the matters at the Principal Seat at Bombay, through Video Conferencing, with effect from 31st August 2020 to 30th September 2020Section 263 Of The Income-tax Act, 1961 – Revision Of Orders Prejudicial To Revenue – Case Laws And Comments
Advocate Arjun Gupta has explained the entire law relating to revision of assessments by the CIT under section 263 of the Income-tax Act, 1961. The ld. author has clearly delineated the extent of the power of the CIT and its limitations. The implications of Explanation 2 to section 263, which was inserted by the Finance Act, 2015, have also been explained in a succinct manner. All the important judgements on the subject have been referred to See Also: Digest of case laws (updated regularly) containing latest judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Anatomization Of The Provisions Of Section 153C Of The Income-tax Act, 1961
CA Rohit Kapoor has conducted a detailed study of section 153C and allied provisions of the Income-tax Act, 1961 which deal with search assessments. He has identified all the specific controversies that arise and answered them with clarity with reference to the statutory provisions and judicial precedents. A pdf copy of the article is available for download
__._,_.___
Posted by: "editor@itatonline.org" <itatonline.org@gmail.com>
| Reply via web post | • | Reply to sender | • | Reply to group | • | Start a New Topic | • | Messages in this topic (1) |
.
__,_._,___
0 comments:
Post a Comment