Income TaxNo reversal of ITC due to loss during the manufacturing process29 Jun 20210No reversal of ITC due to loss during the manufacturing process Madras HC in the case of ARS Steels…
Income TaxA Detailed Analysis of Section 194Q of the Income Tax Act, 196129 Jun 20211 CommentA Detailed Analysis of Section 194Q of the Income Tax Act, 1961 Author CA Vibhor Kalamkar The Government, vide…
Income TaxIt is mandatory to file revised form 36 after death of assessee, as appeals cannot continue for or against a dead person.29 Jun 20210It is mandatory to file revised form 36 after death of assessee, as appeals cannot continue for or against a…
Income TaxICAI Reply on the writ petition filed at SC on Exams related issue29 Jun 20210ICAI Reply on the writ petition filed at SC on Exams related issue IN THE SUPREME COURT OF…
Income TaxCompensation paid under the National Highway Act, 1956 cannot be given the benefit of section 96 of the RFCTLARR Act, 2013, therefore, receipt from the land acquisition shall be taxable in the hands of assessee.29 Jun 20210Compensation paid under the National Highway Act, 1956 cannot be given the benefit of section 96 of the RFCTLARR Act,…
Income TaxUses of word ‘may” in section 144B(7)(vii) cannot absolve revenue from obligation cast upon it to consider request made for grant of personal hearing;29 Jun 20210Uses of word ‘may” in section 144B(7)(vii) cannot absolve revenue from obligation cast upon it to consider request made for…
Income TaxOrder passed without considering Assessee’s request set aside by Delhi High Court29 Jun 20210Order passed without considering Assessee’s request set aside by Delhi High Court [2021] 127 taxmann.com 641 (Delhi) HIGH COURT OF…
Income TaxNew Information for Statement of Financial Transactions: Interest Income, Dividend Income and Capital Gain Income of Mutual Funds & Shares29 Jun 20210New Information for Statement of Financial Transactions: Interest Income, Dividend Income and Capital Gain Income of Mutual Funds & Shares…
Income TaxA comparative Chart on Section 194-Q vis a vis Section 206C(1H)28 Jun 20211 CommentA comparative Chart on Section 194-Q vis a vis Section 206C(1H) Applicability Sec. 194-Q Sec. 206C(1H) Applicability is…
Income TaxAfter 1-4-2021, assessment order can only be passed in consonance with provisions of Section 144B; assessment order dated 15-4-2021 passed by revenue under section 143(3), read with Sections 143(3A) and 143(3B) relating to assessment year 2018-19 was set aside28 Jun 20210After 1-4-2021, assessment order can only be passed in consonance with provisions of Section 144B; assessment order dated 15-4-2021 passed…
Income TaxWhether delayed payment charges or compensation could be termed as “Interest” for the purpose TDS28 Jun 20210Whether delayed payment charges or compensation could be termed as “Interest” for the purpose TDS There are instances where…
IT JudgementInterest Income can’t be included in Total Income of Assessee as Mercantile System of Accounting in juxtaposition to ‘Real Income Theory’: ITAT28 Jun 20210Interest Income can’t be included in Total Income of Assessee as Mercantile System of Accounting in juxtaposition to ‘Real Income…
IT JudgementReassessment is invalid if satisfaction for reopening is recorded in mechanical manner.28 Jun 20210Reassessment is invalid if satisfaction for reopening is recorded in mechanical manner. OMKAM DEVELOPERS LTD ITA No.6862/Del./2018 Short Overview: The…
Income TaxThere is no warrant to select the head of income so far as the computation of the permissible amount of deduction of the remuneration under section 40(b) is concerned.28 Jun 20210There is no warrant to select the head of income so far as the computation of the permissible amount of…
Income TaxMere procedural delay in reversing credit in GSTR-3B will not disentitle appellant from claiming refund of CENVAT credit: Bangalore CESTAT28 Jun 20210Mere procedural delay in reversing credit in GSTR-3B will not disentitle appellant from claiming refund of CENVAT credit: Bangalore CESTAT…
IT JudgementHC sets aside order as National Faceless Assessment Centre didn’t consider objection filed in response to SCN28 Jun 20210HC sets aside order as National Faceless Assessment Center didn’t consider objection filed in response to SCN KBB Nuts (P.) Ltd.…
Income TaxExtension of Due dates of various compliances under the Income Tax Law28 Jun 20211 CommentExtension of Due dates of various compliances under the Income Tax Law Taxpayers were already facing inconvenience in…
Income TaxTIMELINE OF BUYBACK OF SHARES AND OTHER SECURITIES UNDER THE COMPANIES ACT 201326 Jun 20211 CommentTIMELINE OF BUYBACK OF SHARES AND OTHER SECURITIES UNDER THE COMPANIES ACT 2013 Author CS. RISHABH JAIN …