Home Highlights August 2018 Year 2018 This

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1. Transfer Pricing (TP) adjustments - Transfer Pricing (TP) adjustments - debar of deduction u/s 10A on addition income assessed u/s 92CD as per the Proviso to 92C(4) -...

2. Categorization of income - Undisclosed income surrendered during survey - Charging of tax rate u/s. 115BBE - CIT(A) granted relief to the assessee by charging income at...

3. Treatment to commission income - commission income earned by the assessee is chargeable to tax under the head of "Profits and gains of the business" only. As business,...

4. Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

5. Levy of Entry Tax - stock transfer price - validity of Equalized List Price (ELP), adopted by the appellant - As per Section 4 of the Entry Tax Act, the entry tax...

6. Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

7. Service charges received by the assessee from tenants - Income from house property or business income - service charges received by the company from the tenants is...

8. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

9. Correct head of income - rental income - Maintenance charges claimed by the assessee can only be treated as separate source of income and it can be charged as a separate...

10. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

11. Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

12. Nature of income - Income from warehouse - income from warehouse has to be assessed under the head income from house property not under the head income from business and...

13. Real Estate Agent Service - Transfer charges for transfer the allotment of property - these transfer charges have not collected by the assessee as Real Estate Agent,...

14. Correct head of income - Receipt by way of an option agreement cannot be assessed under the head income from house property. Once said receipt is not assessable under...

15. Control of income-tax authorities - U/s 118 of the Income-tax Act, 1961 - the Transfer Pricing Officer - hierarchy - Seeks to amend Notification No. 60/2017 dated 3rd...