Description: Section 50Cis applicable when the capital asset transferred is land of building or both. If the apparent consideration is
Read MoreDescription: Section 50C will not Apply While Computing Exemption Under Section 54F. – V.K. Subramani. Source: 1. www.tpcc.in 2. The
Read MoreDescription: As per the amendments in the income tax rules, coming into effect from July 1, quoting PAN (Permanent Account
Read MoreDescription: The source of the subsidy is not the business of the assessee but scheme of the Central Government. Therefore
Read MoreDescription: Subsidy or transport subsidy is not the immediate source or have direct nexus with the activity of the industrial
Read MoreDescription: In CIT & Udupi Builders (p) Ltd. [2010] 32[I] ITCL 22 [Karn-HC]:[2009] 319 ITR 440[Karn]:[2010]229 CTR [Karn] 452, the
Read MoreDescription: Accordingly, S.54EC deduction has to be given before set-off of losses. The Tata Power Co. Ltd. vs. ACIT (Mumbai)
Read MoreDescription: Given the definitions of the term “business” and “capital asset” in Ss. 2(13) and 2(14), shares, If held for
Read MoreDescription: Loss was allowed for earlier and subsequent year. Appellate Tribunal refused to rectify the order. The Apex Court remanded
Read MoreDescription: Where an order has been passed by the AO without granting the assessee an opportunity to cross examine and
Read More