The assessee inter alia claimed deduction on interest on borrowed capital at Rs. 8,27,014/- under s.24 of the Act under the head ‘income from house property’. The lower authorities have rightly questioned the veracity of claim of property being actually let out. The affidavit filed was clearly bald and a self-serving document. No cross examination of the… Read More »
SUPREME COURT OF INDIA Union of India v. Shreya Sen A.K SIKRI AND ABDUL NAZEER, JJ. SPECIAL LEAVE PETITION (CIVIL) DIARY NO. 34292 OF 2018 FEBRUARY 4, 2019 1. Delay condoned. 2. The High Court vide impugned order dated 24.2.2018 passed in Petition (Civil) No.7444 of 2018, had permitted the respondents herein to file the Income Tax Return for the Assessment… Read More »
ITAT Mumbai Ms Deekay Gears Vs ACIT ITA No. 2366/Mum./2018 Date of Judgement: 16/01/2019 Related Assessment Year : 2009-10 Aforesaid appeal has been filed by the assessee challenging the order dated 21stSeptember 2017, passed by the learned Commissioner (Appeals)-40, Mumbai, pertaining to assessment year 2009-10. 2. There is a delay of 116 days in filing… Read More »
Non-resident company which did not have any permanent establishment India and the services by the said company was rendered outside India and such no services was rendered or no activity was performed in India section 195 of the Act comes into play only if the concerned recipient’s income is chargeable to tax in India.… Read More »
ITAT Jaipur Bithal Dass Mundra Vs DCIT ITA No. 433/JP/2018 Date of Judgement: 20/12/2018 Related Assessment Year : 2014-15 This appeal by the assessee is directed against the order dated 01/02/2018 of ld. CIT(A)-IV, Jaipur for the A.Y. 2014-15. The assessee has raised following grounds of appeal: “1. That under the facts and circumstances of the case… Read More »
we do not find any restriction/condition imposed mandating investment of the capital gain/sale proceeds towards purchase of new house for claiming deduction under section 54 of the Act. What the provision postulates is, for claiming deduction the assessee has to make investment in purchase of a new house one year before or two years after… Read More »