Transfer of Depreciable Assets: Tax rate prescribed U/s 112 is applicable even if it is deemed to be taxed as short-term capital gains U/s 50.

ITAT Delhi Sets Aside Reassessment over Missing Section 143(2) Notice

Remuneration and interest of a partner from partnership firm not covered U/s 44AD: Madras HC

An incorrect assumption of facts makes the entire reopening process legally untenable: ITAT Deharaudun

A Short overview of the laws related to ITC under GST

ITAT directed CIT (E) for giving Permanent Registration as procedural non-compliance with state law doesn’t automatically imply non-genuineness of charitable activity.

Costlier Watch, Home Theatre, Sunglasses, etc now liable for TCS

Power under section 245(2) to withhold refunds: An Overview

Form 10AB with condonation option now available on e-filing portal

GST not includible in Gross Receipts for Income Computation U/S 44BB: ITAT Mumbai

Sales recorded in books of account, even if alleged to be in genuine, do not result in income escaping assessment: Delhi HC

Amount received by illegal occupant is tax free?

No Addition u/s 153A without incriminating material found during search – Statements of third parties not sufficient: ITAT Delhi

Tax Payment Postponed, ₹30 Lakh Earned – All Thanks to a Smartly Timed Sale

Reason to believe for Reassessment: AO must exercise discretion independently and not under the dictates of other authorities.

Re-assessment is valid if the AO independently verifies information and forms a reasoned belief of income escaping assessment.

Assessment order passed on a non-existent entity due to amalgamation is invalid considering the applicability of Section 170(2) of the Income Tax Act

Non filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh