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Showing posts with label Compilations of case law. Show all posts
Showing posts with label Compilations of case law. Show all posts
Sunday, December 18, 2011

Compilations of case law : SALE OF LAND

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INCOME – CHARGEABILITY AND COMPUTATION SALE OF LAND When a person acquires land with a view to selling it later, after developing it, he is ...
Wednesday, December 14, 2011

Compilations of case law : RECEIPTS DURING DISCONTINUANCE OF BUSINESS

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INCOME – CHARGEABILITY AND COMPUTATION RECEIPTS DURING DISCONTINUANCE OF BUSINESS No purchase and sale after certain date and employees disc...
Monday, December 12, 2011

Compilations of case law : RECEIPT OF RENT

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INCOME – CHARGEABILITY AND COMPUTATION RECEIPT OF RENT Assessee is the proposed purchaser of property – Rent received before actual purchase...
Saturday, December 10, 2011

Compilations of case law : HEAD OF INCOME

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INCOME – CHARGEABILITY AND COMPUTATION HEAD OF INCOME Under which head, the transaction to be assessed ? RECEIPT OF INTEREST Interest earned...
Thursday, December 8, 2011

Compilations of case law : SALE OF SHARES

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INCOME – CHARGEABILITY AND COMPUTATION SALE OF SHARES Cumulative effect of all factors to be seen – It is Business income if in earlier year...
Tuesday, December 6, 2011

Compilations of case law : SALE OF OTHER ASSETS

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INCOME – CHARGEABILITY AND COMPUTATION SALE OF OTHER ASSETS Purchase of silver bars when prices were going to rise due to war and sales mad...
Sunday, December 4, 2011

Compilations of case law: STATUS OF ASSESSEE ; CLUBBING OF INCOME

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CLUBBING OF INCOME Inclusion of income of minor child from firm – Parent need not be a partner. CIT Vs Dhanushkodi (Mad) 252 ITR 794 Clubbin...
Friday, December 2, 2011

Compilations of case law: STATUS OF ASSESSEE : TRUST: EXEMPTION

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EXEMPTION Registration of a Trust u/s 12A is a condition precedent to claim exemption u/s 11 & 12 U.P. Forest Corporation Vs DCIT (SC) 2...
Wednesday, November 30, 2011

Compilations of case law: STATUS OF ASSESSEE ; TRUST

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TRUST Amendment to Trust deed has no retrospective effect. Bhriguraj Charitable Trust Vs CIT (Del) 228 ITR 50 For 80G registration, Trust sh...
Monday, November 28, 2011

Compilations of case law: STATUS OF ASSESSEE ; PARTNERSHIP FIRM

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PARTNERSHIP FIRM Firm is not an independent entity – Partners are real owners of assets of firm. N. Khadervali Saheb & Anr. v. N. Gudu S...
Saturday, November 26, 2011

Compilations of case law: STATUS OF ASSESSEE ; DEVOLUTION OF PROPERTY

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DEVOLUTION OF PROPERTY Properties inherited by widow as sole heir on the death of her husband – Adoption by widow subsequently – Does not di...
Thursday, November 24, 2011

Compilations of case law: STATUS OF ASSESSEE ; PARTITION

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PARTITION Death of coparcenor – No ipso facto partition CIT Vs Charan Das (HUF) (All) 280 ITR 637 No evidence that after the death of K...
Tuesday, November 22, 2011

Compilations of case law: STATUS OF ASSESSEE ; HUF

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HUF General Wife of Karta has taxable income – HUF to be assessed as specified as HUF. Kushal Chand Sharma Vs CWT (Raj) 216 ITR 56 Prak...
Sunday, November 20, 2011

Compilations of case law: STATUS OF ASSESSEE ; AOP / BOI

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AOP / BOI Distinction between AOP & BOI CIT Vs Deghamwala Estates (Mad) 121 ITR 684 Business carried on by individual – Death – Busi...
Friday, November 18, 2011

Compilations of case law: STATUS OF ASSESSEE ; General

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STATUS OF ASSESSEE : General Assessment can be made in a different status than what was claimed in the return. Munilal Shivnarain Kothari ...