e-SHRAMPortal – An Overview

Year of Taxation when the date of sale deed execution and registration is different

The genuineness of the agreements cannot be doubted without any material in hand: Bangalore ITAT.  

Gratuitous loan or advance given by a company to the shareholder would come within the purview of Deemed Dividend under section 2(22)(e)

Interest income received from Co-operative Bank is eligible for deduction Under Section 80P(2)(d)  

Under Section 75(4) of the Act, an opportunity of hearing shall be granted on the request made by the assessee or where any adverse decision is contemplated against such person: Madras HC 

Making March Meaningful – Tax caution before 31st March Ends

Compensation for sterilisation of profit earning source is a capital receipt not taxable: ITAT Ahmedabad 

Notice dated 31st March 2022 served by email on 16th April, 2022 is a not valid issue of notice u/s 148 of the Income-tax Act,1961

Unexplained borrowings to face more tax scrutiny

Deposit of electricity duty in no-lien escrow account do not satisfy the conditions of payment for the purpose of Section 43B of the Income-tax Act 1961 

LIC Maturity proceeds of NRI & it’s Taxation

Existence of books of accounts is an essential condition for addition under section 68

The delay of 6 years in filing revised Income Tax Return (ITR) may be condoned. 

AO should not take a call on how the assessee should organise his fiscal affairs so as to serve the interests of revenue authorities. : Mumbai ITAT

Letting out of the land independently which is part of the business asset of the assessee can be treated as income from business only

Maharashtra VAT Amnesty Bonanza announced in State Budget.

Employees’ State Insurance (Central) Amendment Rules, 2022.