Income TaxNo penalty u/s 270A as loss declared under ‘Income from other sources’ couldn’t be set off or carried forward: ITATToday at 1:57 am0No penalty u/s 270A as loss declared under ‘Income from other sources’ couldn’t be set off or carried forward: ITAT…
Income TaxAn overview of Rules for set off and carry forward of lossesToday at 1:20 am0An overview of Rules for set off and carry forward of losses 1. Before making inter-head adjustment, the taxpayer…
Income TaxRectification under section 154 of the Act is not obligatory on the part of the Assessing Officer if clear data is not available: Nagpur ITAT Yesterday at 9:25 am0Rectification under section 154 of the Act is not obligatory on the part of the Assessing Officer if clear data…
Income TaxEx-parte order passed by serving notice on email – ITAT remanded back the matter to AOYesterday at 9:12 am0Ex-parte order passed by serving notice on email – ITAT remanded back the matter to AO The Income Tax…
Income TaxReopening of assessments for assessment year as back as AY 2014-15, Ay 2015-16, 2016-17 and 2017-18 is not permissible: Delhi HCYesterday at 8:52 am0Reopening of assessments for assessment year as back as AY 2014-15, Ay 2015-16, 2016-17 and 2017-18 is not permissible: Delhi…
Income TaxOverview Penalties under Income Tax Act-1961Yesterday at 1:41 am0Overview Penalties under Income Tax Act-1961 The copy of the order is attached herewith: Penalties under Income Tax Act 1961…
Income TaxInterest income of Credit cooperative societies from its investment with other bank eligible for deduction U/s 80P: Nagpur ITAT29 Aug at 1:24 am0Interest income of Credit cooperative societies from its investment with other bank eligible for deduction U/s 80P: Nagpur ITAT …
Income TaxDoes the old dictum of ‘reasons to believe’ hold true in light of 2021 amendments in process of reopening of assessments?28 Aug at 1:54 am0Does the old dictum of ‘reasons to believe’ hold true in light of 2021 amendments in process of reopening of…
Income TaxWould bonafide mistake in non disclosure of foreign assets in return result into penalty under Black Money Law?27 Aug at 1:41 am0Would bonafide mistake in non disclosure of foreign assets in return result into penalty under Black Money Law? 1.…
Income TaxBombay HC Censures AO for Unconscionable Conduct, Disregarding Binding Judgement, Slaps Rs25,000 Fine26 Aug at 5:24 am0Bombay HC Censures AO for Unconscionable Conduct, Disregarding Binding Judgement, Slaps Rs25,000 Fine Samp Furniture Pvt. Ltd. Vs ITO…
Income TaxDecoding Capital Gains Tax: Exemption Strategies under the 12.50% and 20% Rates26 Aug at 1:31 am0Decoding Capital Gains Tax: Exemption Strategies under the 12.50% and 20% Rates Every new tax law & amendments comes…
GSTOver Rs 80,000 crore worth GST notices issued for assessment year 2018-2224 Aug at 2:14 am0Over Rs 80,000 crore worth GST notices issued for assessment year 2018-22 The investigation arm of the Goods and…
TDSUnwanted Compliance Burden of TDS on payment by Partnership firm to Partners: Section 194T23 Aug at 1:58 am0 Unwanted Compliance Burden of TDS on payment by Partnership firm to Partners: Section 194T The Government has proposed new…
Income TaxBonafide purchasing dealers should not be denied ITC for non compliance of selling dealers23 Aug at 1:40 am0Bonafide purchasing dealers should not be denied ITC for non compliance of selling dealers Here is an interest case…
Income TaxWhether separate written retraction requirement is fastened upon assessee either u/s 133A or any other provisions of the Act?22 Aug at 6:15 am0Whether separate written retraction requirement is fastened upon assessee either u/s 133A or any other provisions of the Act? …
Income TaxCBDT issues clarification in respect of Income-tax clearance certificate (ITCC).22 Aug at 1:52 am0CBDT issues clarification in respect of Income-tax clearance certificate (ITCC). It is being erroneously reported that all Indian citizens…
Income TaxCredit co-operative societies are eligible for deduction U/s 80P(2)(a)(i) in respect of interest income from its investment: Nagpur ITAT21 Aug at 11:19 am0Credit co-operative societies are eligible for deduction U/s 80P(2)(a)(i) in respect of interest income from its investment: Nagpur ITAT Disallowance…
Income TaxActivity already commenced prior to Provisional Registration cannot be the ground for rejection of Section 80G Registration: Nagpur ITAT21 Aug at 10:40 am0Activity already commenced prior to Provisional Registration cannot be the ground for rejection of Section 80G Registration: Nagpur ITAT …