Investment in REC bonds out of advance money received in an agreement to sell would qualify for sec. 54EC relief
IT : Where assessee had invested part of advance money received on agreement to sell of property in specified bonds prior to actual sale, such investment would qualify for exemption under section 54EC
IT: Where assessee's claim for exemption under section 54F was rejected in absence of details regarding investment and ownership of new residential property, and assessee claimed that he was in a position of furnish said details, matter was to be readjudicated
IT : When assessee had objected to stamp duty valuation adopted by Assessing Officer, AO should refer matter to Valuation Officer
IT : Where acquisition of property was by way of Will and previous owner owned it prior to 1-4-1981, relevant year was to be accepted for purpose of indexation
HC grants stay on recovery proceedings as appeal was pending for adjudication before CIT(A)
IT: Pending appeal against assessment, application for stay cannot be rejected on ground that recovery cannot be stayed
Tribunal couldn't demand further pre-deposit from 'Deloitte' if it had paid full taxes alongwith 25% penalty
IT : Where petitioner had already paid full tax amount and also 25 per cent of penalty, Tribunal ought not to have required petitioner to deposit a further sum for hearing appeal
Kurni Community is a backward class; trust established for its benefit couldn't be denied sec. 12AA registration
IT : Assessee-society, created for benifit of kurni community which was classified as a backward class, would come within exception provided under Explanation 2 to section 13 and, thus it could not be denied registration under section 12AA by invoking restriction imposed under section 13(1)(b)
Holding period of property begins on payment of full consideration if such condition was given for its transfer
IT : Where as per MOU for acquiring property, property was to be transferred to assessee only when entire consideration was paid
Tribunal could rectify its order even if decision of HC was brought to its notice after disposal of appeal
IT : Interest to be levied under section 234D has to be only with effect from 1-6-2003 even if assessment year referred to was prior to 1-6-2003
IT : Where decision of jurisdictional High Court was brought to notice of Tribunal not at time of disposal of appeal, but later on, Tribunal can rectify its order to apply said decision
Export commission paid to foreign agent won't attract TDS if such agent didn't have PE in India
IT : Section 195 could not be invoked in respect of payment by assessee of commission on export sale made to a US company which had no permanent establishment in India
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