Judgements by CMA Gul S

Exemption under sections 54 and 54F of the Act would be allowable in respect of one residential house only. If the assessee has purchased more than one residential house, then the choice would be with assessee to avail the exemption in respect of ei

Notice u/s 201 and 201(1A) for recovery of tax not deducted/short-deducted and interest thereon cannot be issued beyond a period of 4 years Century Textiles and Industries Ltd. vs DCIT 13 SOT 507 ITAT, Mumbai Century Textiles and Industries L

'Chargeable gift'- Hindu law - Settlement of share of HUF on unmarried daughter The assessee were members of an HUF known as CD family.'C' the karta died on 29 January 1987. Due to some disputes arising among family members, a family arrangement wa

The assessee was a registered merchant exporter. On receipt of orders directly from abroad it purchased goods from various parties including some purchases made from EOU units. These units were entitled to deduction under s.10B. The benefits only und

The assessee was manufacturing and trading in consumer electronic and trading in consumer electronic and home appliances. It outsourced manufacture of these articles from various concerns referred to as OEMs. The OEMs purchased raw materials on their

Deduction of tax at source - Amendment to section 199, permitting to adjust tax deducted at source (TDS) proportionately in hands of co-owners had been brought in statute book only with effect from assessment year 1997-98, with prospective effect - I

Export Business — Deduction u/s. 80HHC — Excise duty and sales tax to be excluded from the computation of ‘Total Turnover’ for the purpose of S. 80HHC of the Act.

Reassessment — An assessee cannot change the legality of the notice issued u/s.148 of the Act reopening the assessment on the grounds of change of opinion in a case where no assessment is made u/s.143(3) of the Act, but only an intimation is issued u