I.  Today's Headlines:    

II.  A Useful Article:

 
1. [ Contribution by CA Sandeep Garg and contributor is available at casandeepgarg@gmail.com ]

Manpower Services under Reverse Charge Mechanism 

(Please click here)     

III.  Direct Tax Case law:

1.  Shyamlal Tandon Vs. Income Tax Officer, IT Appeal No. 1774 (HYD.) OF 2012, Date of Order: 21.01.2014, ITAT-Hyderabad

Subsequent change in usage of property does not disentitle assessee to relief under section 54F, if what was acquired was originally a residential property.

It was held that notwithstanding the change in the user of a property, assessee is entitled to relief under section 54F, if what was sought to be acquired and originally acquired is a residential property. In that view of the matter, the impugned order of the Commissioner (Appeals) was set aside, and the matter restored to the file of the Assessing Officer, with a direction to consider the assessee's claim for exemption under section 54F subject to fulfilment of other conditions, in accordance with law and after giving reasonable opportunity of hearing to the assessee.

(Please click here for judgment)

2.  Commissioner of Income Tax Vs. Motor Industries Co. Ltd., ITA No. 756 OF 2007, Date of Order: 14.02.2014, High Court of Karnataka

Whether contribution made by assessee/employer towards benevolent fund created in favour of employee is entitled to deduction under section 40A(9).

Held Yes

Judgement of Division Bench in ITA No. 3 of 2002 followed, wherein for the reasons recorded in paragraph-7 of the respective order answering the said question in favour of the assessee and against the revenue.

(Please click here for judgment)
 
 

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Feel Relaxed"

  Thanks & Regards

Team

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