Case Law - Tax Law

Penal provisions of sections 50 and 51, whether applicable retrospectively… [Union of India and Ors. V. Gautam Khaitan]

Section 1, read with sections 50 and 51 of the Black money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015-High court took a view that while exercise of powers under section 85 and 86, Central Government has made penal provision of section 50 and 51 retrospectively applicable from 1-7-2015..

June 21, 2020

Housing project developed by builder when land was standing in name of original owner, whether deduction under sec. 80-IB(10) available [Pr. CIT V. Green Associates]

Where builder developed housing project on its own risk, mere fact that at time of execution of said project, land was in name of original owner, would not be a ground to reject builder’s claim for deduction under sec.80-IB(10)

May 24, 2019
March 22, 2019

One bogus donation received by trust whether can form ground for cancellation of registration under sec 12AA (3) [Commissioner of Income Tax (Exemptions), Kolkata V. Jagannath Gupta Family Trust ]

In terms of provision of section12AA(3), even one bogus donation can establish that activities of charitable trust are not genuine and it can form a ground for cancellation of registration.

February 18, 2019

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