Home Highlights February 2012 Year 2012 This

You may also like:

1. Carry forward and set-off of unabsorbed depreciation of proprietary concern against partnership firm - as per the provisions of the section 78(2) assessee is entitled to...

2. Additions u/s 68 - Unsecured loans - partnership firm - Making addition of unsecured loans relating to the partnership firm in the hands of the assessee is bad in law...

3. Changes in GST - Partnership firm or a firm includes LLP ( Limited liability Partnership) for the purposes of levy (including exemption therefrom) of GST on legal services.

4. Dis-allowance u/s 14A of notional interest paid on loan taken for capital contribution in partnership firm - partnership firm - provisions of section 14A are not...

5. Deduction u/s.10AA - SEZ unit - Business of proprietary concern was taken over by the partnership firm - fresh approval from SEZ in respect of the partnership firm -...

6. Firms – Rate of Income Tax on Firms / Partnership Firm will continue to be the same as that specified for FY 2022-23

7. Reconstitution of partnership firm – liable to capital gains for assets transferred from earlier firm to new firm

8. Denial of claim of deduction of partnership remuneration and interest - the status of appellant has to be taken as AOP - no genuine partnership firm was in existence - AT

9. Dissolution of partnership - taxability of sum received by a partner - Any amount paid to a partner as his share on dissolution of the partnership firm cannot be...

10. Receipt of amount as goodwill on retirement - right of partner in the partnership firm - capital asset u/s 2(14) - extinguishment of such right in the firm - HC...