No penalty u/s 270A as loss declared under ‘Income from other sources’ couldn’t be set off or carried forward: ITAT
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No penalty u/s 270A as loss declared under ‘Income from other sources’ couldn’t be set off or carried forward: ITAT…
Month: August 2024
An overview of Rules for set off and carry forward of losses
An overview of Rules for set off and carry forward of losses 1. Before making inter-head adjustment, the taxpayer…
Rectification under section 154 of the Act is not obligatory on the part of the Assessing Officer if clear data is not available: Nagpur ITAT
Rectification under section 154 of the Act is not obligatory on the part of the Assessing Officer if clear data…
Ex-parte order passed by serving notice on email – ITAT remanded back the matter to AO
Ex-parte order passed by serving notice on email – ITAT remanded back the matter to AO The Income Tax…
Reopening of assessments for assessment year as back as AY 2014-15, Ay 2015-16, 2016-17 and 2017-18 is not permissible: Delhi HC
Reopening of assessments for assessment year as back as AY 2014-15, Ay 2015-16, 2016-17 and 2017-18 is not permissible: Delhi…
Overview Penalties under Income Tax Act-1961
Overview Penalties under Income Tax Act-1961 The copy of the order is attached herewith: Penalties under Income Tax Act 1961…
Interest income of Credit cooperative societies from its investment with other bank eligible for deduction U/s 80P: Nagpur ITAT
Interest income of Credit cooperative societies from its investment with other bank eligible for deduction U/s 80P: Nagpur ITAT …
Does the old dictum of ‘reasons to believe’ hold true in light of 2021 amendments in process of reopening of assessments?
Does the old dictum of ‘reasons to believe’ hold true in light of 2021 amendments in process of reopening of…
Would bonafide mistake in non disclosure of foreign assets in return result into penalty under Black Money Law?
Would bonafide mistake in non disclosure of foreign assets in return result into penalty under Black Money Law? 1.…
Bombay HC Censures AO for Unconscionable Conduct, Disregarding Binding Judgement, Slaps Rs25,000 Fine
Bombay HC Censures AO for Unconscionable Conduct, Disregarding Binding Judgement, Slaps Rs25,000 Fine Samp Furniture Pvt. Ltd. Vs ITO…
Decoding Capital Gains Tax: Exemption Strategies under the 12.50% and 20% Rates
Decoding Capital Gains Tax: Exemption Strategies under the 12.50% and 20% Rates Every new tax law & amendments comes…
Over Rs 80,000 crore worth GST notices issued for assessment year 2018-22
Over Rs 80,000 crore worth GST notices issued for assessment year 2018-22 The investigation arm of the Goods and…
Unwanted Compliance Burden of TDS on payment by Partnership firm to Partners: Section 194T
Unwanted Compliance Burden of TDS on payment by Partnership firm to Partners: Section 194T The Government has proposed new…
Bonafide purchasing dealers should not be denied ITC for non compliance of selling dealers
Bonafide purchasing dealers should not be denied ITC for non compliance of selling dealers Here is an interest case…
Whether separate written retraction requirement is fastened upon assessee either u/s 133A or any other provisions of the Act?
Whether separate written retraction requirement is fastened upon assessee either u/s 133A or any other provisions of the Act? …
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC).
CBDT issues clarification in respect of Income-tax clearance certificate (ITCC). It is being erroneously reported that all Indian citizens…
Credit co-operative societies are eligible for deduction U/s 80P(2)(a)(i) in respect of interest income from its investment: Nagpur ITAT
Credit co-operative societies are eligible for deduction U/s 80P(2)(a)(i) in respect of interest income from its investment: Nagpur ITAT Disallowance…
Activity already commenced prior to Provisional Registration cannot be the ground for rejection of Section 80G Registration: Nagpur ITAT
Activity already commenced prior to Provisional Registration cannot be the ground for rejection of Section 80G Registration: Nagpur ITAT …
