Income Tax Act, 1961 with Section 144

Supreme Court Clarifies Capital Gains Tax on Property Transfer: Seshasayee Steels vs. ACIT (2019)

/ Aniruddha Bose, Income Tax Act, 1961, Income Tax Act, 1961 with Section 144, Income Tax Act, 1961 with Section 2(47), Judges, R.F. Nariman, Transfer of Property Act, 1882, Transfer of Property Act, 1882 with Section 53A, V. Ramasubramanian

Supreme Court Clarifies Capital Gains Tax on Property Transfer: Seshasayee Steels vs. ACIT (2019) LEGAL ISSUE: Determining the point of transfer for capital gains tax on immovable property under the Income Tax Act, 1961, specifically concerning agreements to sell and subsequent compromise deeds. CASE TYPE: Income Tax Law Case Name: M/s Seshasayee Steels P. Ltd. […]

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Supreme Court Clarifies Assessing Officer’s Power to Extend Audit Report Time Under Section 142(2C) of the Income Tax Act

/ Dhananjaya Y Chandrachud, Hemant Gupta, Income Tax Act, 1961, Income Tax Act, 1961 with Section 142, Income Tax Act, 1961 with Section 144, Income Tax Act, 1961 with Section 153B, Judges

Supreme Court Clarifies Assessing Officer’s Power to Extend Audit Report Time Under Section 142(2C) of the Income Tax Act LEGAL ISSUE: Interpretation of the Assessing Officer’s power to extend time for submitting audit reports under Section 142(2C) of the Income Tax Act, 1961. CASE TYPE: Income Tax Law Case Name: The Commissioner of Income Tax,

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