Partial withdrawal from National Pension System (NPS) to the extent of 25% of amount contributed is not taxable
Validity of addition under section 50C if no reference is done to valuation officer despite being request made by assessee
Bogus purchase & Tax Impact: An observation in the case of Ilesh Amrutlal Gadhia Vs DCIT by Mumbai ITAT
SUMMARY OF KEY FINDINGS AND RECOMMENDATIONS IN THE CAG’S PERFORMANCE AUDIT REPORT ON INCOME TAX SEARCH AND SEIZURE ASSESSMENTS (Report No.14 of 2020)
Bombay High Court admits writs challenging the validity of Sections 49, 50CA and 56 of the Income Tax Act, 1961 & Rules 11U, 11UA, 11UAA, 11UAC and 11UAD of the Income Tax Rules, 1962
“Please Don’t Extend the date…” : An open Letter by the taxpayers who is looking for better tax administration in the country
Dear Taxpayer, please note that reopening of assessment by income tax officer simply because of information received without application of mind is not valid
GST: Consumables sent on job work consumed in the process of galvanising should be treated as supply in terms of section 143(3)?
Landmark Judgment :Addition deleted by court as it was made under section 68 and not under section 69:
Interest received in advance on discounting of bills against LC is taxable on accrual basis: Madras HC
Addition under section 69C against Bogus purchases if there is no dispute as regards corresponding sales
If Assessee has collected the amounts from its customers as a contingent liability towards tax, it would partake of the character of trading receipts even if described as deposit.
