Assessment of commission income of providing accommodation ...

Income Tax Appeals: Commission Income from Hawala Transactions Adjusted to 2.5% for Fair Resolution.

October 13, 2015

Case Laws Income Tax AT

Assessment of commission income of providing accommodation entires - CIT(A) estimated the income @5% out of Hawala transactions - an estimate of 2.5% of the total amount receipts received by the Assessee would meet the ends of justice - AT

View Source

← Previous Next →

Assessment of commission income of providing accommodation ...

Income Tax Appeals: Commission Income from Hawala Transactions Adjusted to 2.5% for Fair Resolution.

October 13, 2015

Case Laws Income Tax AT

You may also like:

Income tax slabs - Upto 2 lacs = nil, from 2 lacs to 5 lacs = 10%, from 5 lacs to 10 lacs = 20%, above 10 lacs = 30%

Determination of service tax liability on the approval of resolution plant under IBC - The amount of service tax dues having thus crystallized, the resolution plan says...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

The ITAT partially allowed the assessee's appeal, directing deletion of several additions and modifications to income calculations. Key outcomes include: (1) commission...

Advance tax payment obligation does not apply when assessee claims agricultural land sale proceeds are exempt u/s 2(14). CIT(Appeals) should admit appeal for...

Leviability of Tax – Sales tax on Brand name holder & Licensee - Tax u/s 5(2) the Kerala General Sales Tax Act, 1963 – It is the brand name holder, who has to pay tax...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

HC set aside ITAT's rectification order under Section 254(2) of Income Tax Act, finding ITAT exceeded its jurisdiction in reviewing income classification. The dispute...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

Amended (1) Income Tax Act, (2) Customs Act, (3) Central Excise Act, (4) Central Sales Tax and (5) Service Tax (Chapter V of the Finance Act, 1994)

Speculative loss or not - Set off and carry forward of loss arising from derivative transactions in currency segment - In essence, an 'eligible transaction' [as defined...

FEMA (Transfer or Issue Of Security By A Person Resident Outside India) - Sixth Amendment – Amendment In Regulations 2, 5, 10, 12 And Schedules 1, 2, 5, 6 & 7 - Notification

Circular No. 05/2024, issued by the Central Board of Direct Taxes (CBDT) under section 268A of the Income-tax Act, 1961, introduces measures to reduce litigation in...

Approval of Resolution Plan - Dues of Income Tax liability - reliefs from Income Tax liabilities have not been granted as prayed by the Successful Resolution Applicant....

The case pertains to the extinguishment of claims under the Insolvency and Bankruptcy Code (IBC) against Ruchi Soya Industries Limited, after the acceptance of the...

Quick Updates: