Income TaxNo addition sustainable in the hands of the Power of Attorney holder(PoA): ITAT Amritsar.31 Jan 20230No addition sustainable in the hands of the Power of Attorney holder(PoA): ITAT Amritsar. ITAT Amritsar has recently held…
Capital GainIncome TaxNo kitchen-Whether property can be considered as house property?31 Jan 20230No kitchen-Whether property can be considered as house property? In this case, Assessee argued that the impunged property is…
Income TaxNon filing of income tax return within due date u/s 139(1) and disallowance of deduction U/s 80P31 Jan 20230Non filing of income tax return within due date u/s 139(1) and disallowance of deduction U/s 80P There is…
DTAAHow to get the DTAA benefit for filing income tax return in India?31 Jan 20230How to get the DTAA benefit for filing income tax return in India? To get the benefit of Double…
Capital GainIncome TaxOther Source Of IncomeSection 80P does not make a distinction between the long term investments and short term investments: Interest income or dividend income should be earned by a co-operative society from another cooperative society is eligible for deduction U/s 80P30 Jan 20230Section 80P does not make a distinction between the long term investments and short term investments: Interest income or dividend…
Capital GainCapital Gain Exemption: Section 54F The fact that income is assessable under the Head “House Property” is not determinative of the nature of properties as residential or not.30 Jan 20230Capital Gain Exemption: Section 54F The fact that income is assessable under the Head “House Property” is not determinative of…
GSTSEZ unit not required to pay GST under RCM30 Jan 20230SEZ unit not required to pay GST under RCM Here is one welcome Ruling which will put to rest…
Income TaxAO cannot reject books of accounts merely for producing photocopies or for drop in NP: ITAT30 Jan 20230AO cannot reject books of accounts merely for producing photocopies or for drop in NP: ITAT Blue Stampings &…
BudgetWish-list of the Middle Class from Union Budget -202330 Jan 20230Wish-list of the Middle Class from Union Budget -2023 With the 5 Trillion economy in mind, Smt. Nirmala Sitharaman…
other topicCIT(A) directed by Calcutta HC to expeditiously dispose off Appeal pending for 3 years28 Jan 20230CIT(A) directed by Calcutta HC to expeditiously dispose off Appeal pending for 3 years M/S Rupahali Sarees Pvt Ltd.…
Income TaxRBI Discussion Paper on Expected Loss (EL)-based Approach28 Jan 20230RBI Discussion Paper on Expected Loss (EL)-based Approach Reserve Bank of India (RBI), vide Press Release dated 16th January,…
Income TaxAdvisory services not taxable as fees for included services under India-US DTAA: Calcutta High Court27 Jan 20230Advisory services not taxable as fees for included services under India-US DTAA: Calcutta High Court Commissioner of Income Tax…
Business/ProfessionCapital GainSystematic Investment Plan (SIP) of Mutual fund vs. Taxation on withdrawals27 Jan 20230 Systematic Investment Plan (SIP) of Mutual fund vs. Taxation on withdrawals Systematic Investment Plan (SIP) is considered as one…
Income TaxSale or Gift of the PU Land by the builder & Developer vis a vis Section 43CA27 Jan 20230Sale or Gift of the PU Land by the builder & Developer vis a vis Section 43CA Section 43CA provides…
Business/ProfessionGSTIncome TaxNot all Minor income is subject to the Clubbing Provision27 Jan 20230 Not all Minor income is subject to the Clubbing Provision Youtube, Instagram, Facebook, Snapchat, LinkedIn etc have become an…
AssessmentIncome TaxDeduction u/s 80P cannot be denied for the reason that the assessee did not file return of income its return of income within due date u/s 139(1)27 Jan 20230Deduction u/s 80P cannot be denied for the reason that the assessee did not file return of income its return…
Income Taxother topicAddition cannot be sustained if the person fails to mention the the time of payment, notes denomination, dates of payment, prpose of payment during Cross Examination27 Jan 20230Addition cannot be sustained if the person fails to mention the the time of payment, notes denomination, dates of payment,…
Income TaxAO cannot reject audited figures of turnover and adopt increased estimated turnover without sufficient basis27 Jan 20230AO cannot reject audited figures of turnover and adopt increased estimated turnover without sufficient basis Whether addition under section…