Wednesday | 22 Oct 2014
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tax calc

Assessment in hands of trust quashed as trust deed clearly defined beneficiaries and their share of interest


IT: Where assessee, a revocable trust, was formed with object of making investment in mezzanine fund, in view of fact that trust deed gave clear...

AO to consider sec. 54B relief after verifying revenue records indicating status of land as agricultural: ITAT


IT : Where in support of claim for deduction under section 54B, assessee produced revenue record showing that land acquired by State Government was used...

Income from letting out of factory alongwith Machinery was taxable as business receipt if both were inseparable


IT: Where assessee, engaged in manufacture and sale of IMFL products, let out entire factory alongwith excise licence and plant and machinery, in view of...

No TDS liability of employer on sums remitted under approved VRS if value of benefits didn’t exceed five lakhs


IT : Once scheme for voluntary retirement is approved, occasion to effect deduction of tax at source would arise only if benefit of a particular employee...

HC upheld reassessment as assessee had wrongly deducted interest on housing loan under sec. 57


IT : Where in course of assessment proceedings relating to subsequent assessment year, Assessing Officer received information that assessee had wrongly...

Cotton waste won’t come within the meaning of scrap to attract TCS under sec. 206C


IT: Where assessee obtained/filed Form 27C for non-collection of tax at source technical breach of submitting same by applying section 154 was liable to...