Deeming fiction under income tax act

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WebJul 13, 2024 · Though the provisions of the Evidence Act are not strictly applicable to the procedures of this Tribunal as envisaged under the Income Tax Act, 1961, but the … WebOct 11, 2011 · This language eliminates the need for the IRS to file tax liens in every location to which a taxpayer may move by creating a fiction and deeming the property situated at the location where the property was located when the lien was filed. In re Eschenbach, 267 B.R. 921, 924 (Bankr.N.D.Tex.2001).

Legal fact or legal fiction? Tax Adviser

WebAnd the Saga Begins! Income Tax Department released Json utility for ITR Form 1 and 4. Income Tax Return filing season starts now. #incometaxreturn… WebApr 15, 2024 · After hearing the assessee, the income-tax officer (ITO) added Rs 73 lakh as deemed dividend assessable under Section 2 (22) (e). It was pleaded that the amount was only a temporary borrowing and not in the nature of loan or advance. As this argument was not accepted, another submission was raised to the effect that the dividend … tamia mickles rogers

Interpreting and Applying Deeming Provisions of the Income …

WebDeeming Fiction in Income Tax Act by CA Adv Kapil Goel. 1,379 views Streamed live on Apr 17, 2024 Deeming Fiction in Income Tax Act by CA Adv Kapil Goel ...more. … WebJan 18, 2024 · Section 48(iii) of the Income-tax Act, 1961 allows deduction of the amount chargeable to income-tax as income of such specified entity on the value of any money … Webspeculation business in view of Explanation to section 73 of the Income-tax Act, 1961 (‘the Act’), which deemed purchase and sale of shares as being speculative business even if … brent\u0027s trash removal

Taxability of Bogus Share Capital Under Section 68 …

Interpretation Of Deeming Provision In The Income Tax …

WebJul 1, 2024 · Tax legislation often contains deeming provisions, which ask the reader to pretend a legal fiction is real. What does it mean to me? This is an introduction to some … WebJul 9, 2024 · Deemed dividends are to be declared as income under the head of income from other sources. No special rates are charged on deemed dividends and it is charged … tamiami airboat ridesWebDec 20, 2024 · Deeming fiction of section 50C cannot be considered for purpose of exemption under section 54EC. Nila V.Shah vs CIT Mumbai on 29 February, 2012 IN … brent\\u0027s drug store jackson ms

"WebDeeming fiction under Section 50C Section 50C of the Income Tax Act, 1961 (hereafter referred to as the “Act”) was introduced vide Finance Act 2002 w.e.f. 01.04.2003 as a … " - Deeming fiction under income tax act

Deeming fiction under income tax act

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WebJun 10, 2024 · Justice Bhuyan said “what we notice is that section 13(8)(b) of the IGST Act read with section 8(2) of the Act has created a fiction deeming export of service by an intermediary to be a local ... WebApr 11, 2024 · Calcutta High Court held that invocation of revisional jurisdiction by PCIT u/s 263 of the Income Tax Act ignoring the order passed u/s 153A of the Income Tax Act as immaterial and irrelevant unjustified. Facts- This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (Act) is directed against the order dated 18th April ...

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WebMay 26, 2024 · E. General findings given by the Court are brought out hereunder: 1. Section 68 of the Act would cover within its ambit credit in the nature of share capital and share premium. 2. The initial onus is on the … WebDec 17, 2015 · Contents. Under Section 143 (2) (ii) of the Income Tax Act, 1961 (‘Act’ for brevity) the Assessing Officer is required to serve, on the assessee, a notice requiring him to attend the office or to produce evidence on which the assessee may rely in support of the return, if the Assessing Officer considers it necessary or expedient to ensure ...

WebAug 2, 2024 · The notice issued u/s 148A must contain information that income chargeable to tax has escaped assessment. There must be some material supporting allegation of … WebJul 7, 2024 · The Ld. A.O. show caused the assessee, as to why the amount of loan advanced to the extent of accumulated profits not to be held as deemed dividend as envisaged by section 2(22)(e) of the Income Tax Act, 1961 and taxed under ‘Income from other sources’ u/s 56 in the hands of assessee as he was having substantial …

WebJul 16, 2024 · The company does not earn any income when it issues share at a premium. However, by virtue of deeming fiction, the premium which is received in excess of the … WebThe F-tT held that this statutory fiction extended to determining how the Treaty applied in circumstances where the UK was seeking to levy income tax. As a result, the F-tT considered that the effect of the UK deeming …

WebMay 9, 2024 · a) A deeming provision created under the Income Tax Act cannot simply be read into double tax avoidance agreements (‘DTAAs’) unless said tax treaty also …

http://www.acbhuteria.com/wp-content/uploads/2024/07/DEEMING-FICTION-UNDER-SECTION-50C-OF-THE-INCOME-TAX-ACT.pdf brentuximab drug monographWeb2. That on the facts and circumstances of the case Ld. CIT(A) erred in law in holding that the AO was not justified in making disallowance of Rs.57,20,303/- u/s 14A of the Act read with Rule 8D of the Income Tax Rules and restricting the expenses disallowed with rule 8D to the extent of Rs.38,156/- only. On proper appreciation of the facts of ... tam hats onlineWebDec 17, 2024 · 1. Income Tax Act. It is pertinent to note that deduction for CSR expenditure is not allowed under Income Tax Act, 1961. “any expenditure incurred by an assessee on the activities relating to corporate social responsibility referred to section 135 of the Companies Act, 2013 shall not be deemed to be an expenditure incurred by the … tami 4 manual english