Home Highlights January 2014 Year 2014 This

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1. Allowable expenditure u/s 37(1) - addition relating to form fees which was deposited for obtaining the wine shop through government - non-accepting the theory of...

2. Additions against fixed deposit in the name of family members and interest income - Admittedly, the amount of fixed deposit in the name of family members can adequately...

3. Addition u/s 69A - unexplained cash deposits in the saving bank - The tribunal found the orders of the Revenue authorities to be arbitrary, with a failure to consider...

4. Capital gain computation - Allowability of transfer expenses [brokerage, air tickets, hotel accommodation receipts, postal charges receipts, conveyance charges, lawyer...

5. Refusal of grant of interest on the amount deposited during investigation, which was subsequently found to be refundable - The Tribunal found that the amount deposited...

6. MAT u/s 115JB - The findings of the ld.CIT(A) holding the impugned expenses to be not in the nature of prior period expenses, but confirming the adjustment made to the...

7. Capital gain computation - lease rental expenses are related to the transfer of slump sale business while computing the capital gain u/s 48(1) or not? - The Tribunal...

8. Long term capital gain - section 45(2) applicability - Property received by assessee on partial partition of Hindu Undivided Family - expenses claimed u/s 37(1) -...

9. Disallowance of freight and transportation expenses - on enquiry AO found that transporters are not in existence - mere production of crossed demand drafts was not...

10. Valuation- inter-connected undertaking - related parties or not - applicability of doctrine of mutuality of interest - The fact that Appellant 1 and Appellant 2 were not...

11. Initiation of CIRP - Failure to make deposits the entire OTS amount - In the interests of justice, the Tribunal directed the appellants and the investor to deposit the...

12. Receipt or accrual of any real income - Agricultural income - the tribunal has recorded the finding that the assessee was neither in possession of the agricultural land...

13. Rejection of central sale made by the assessee - once the Tribunal has recorded the finding that the documents, as required by it, was not placed by the assessee and no...

14. Gift received from relatives - unexplained cash credit u/s 69 - Tribunal found that the assessee had not made out grounds to permit to bring in such additional evidence...

15. Deduction u/s 80-IC - Interest on Fixed Deposits (FD) - in order to avail overdraft facility, the bank mandated pledge of fixed deposits - interest earned out of the...