Allahabad High Court held that share capital additions under Section 68 cannot be sustained merely on doubts about the investor’s source of funds. In the absence of evidence showing that the money ...
The ITAT ruled that an assessment made after the assessees death was not void ab initio where jurisdiction had already been validly assumed before death. The matter was remanded for passing a fresh ...
The income tax department in India has stated that the burden of proof to establish the creditworthiness of an investor lies with the company being assessed. This comes after several startups, ...
The Income Tax Department has allowed tax officials to either waive or reduce interest payable by a taxpayer, subject to specified conditions. Under the Income Tax Act Section 220 (2A), if a taxpayer ...
New Delhi: The Supreme Court has held that an assessee must comply with a summons and furnish a response to a show cause notice when issued by either the Central or State tax authority. Under the ...
https://www.thehindubusinessline.com/economy/policy/no-legal-obligation-on-heirs-to-inform-it-dept-about-deceased-assessee-delhi-hc/article32117344.ece Copy The Delhi ...
The High Court of Karnataka has held that property acquired in the spouse’s name is eligible for exemption under Section 54 of the Income Tax Act, which deals with profit on the sale of property used ...
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