Trust or institution - Object to develop training and research centre to facilitate skill development to entire chain of work force engaged at various levels in garment and textile industry entitle for registration under provisions of Section 12AA.
Gear Training ...
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The Blogs
PREAMBLE: The Present Appeal arising out of order dated 21st March, 2022 passed by National Company Law Tribunal, Division Bench – I, Chennai Bench in CP/IB/75/2021 along with IA/839/CHE/2021 and IA/844/CHE/2021.
PREAMBLE: The Present Appeal arising out of order dated 21st March, 2022 passed by National Company Law Tribunal, Division Bench - I, Chennai Bench in CP/IB/75/2021 along with IA/839/CHE/2021 and IA/844/CHE/2021.
Mr. Amar Vora v City Union Bank Ltd.
National Company ...
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Consideration paid for purchase of advertisement space does not amount to royalty: ITAT Chennai
Consideration paid for purchase of advertisement space does not amount to royalty: ITAT Chennai
ESPN Digital Media (India) Pvt. Ltd. (ITA Nos.: 1070, 1071, 1072 & 1073/CHNY/2018)
Facts:
ESPN India purchased advertising space on websites owned and hosted by ESPN UK ...
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Unexplained Expenditure: Taxation @ 78% Flat
Unexplained Expenditure: Taxation @ 78% Flat
Mr. Smart has incurred Rs. 75 Lakh in the marriage of the daughter in the year 2019. The income tax Department got to know about the expenses incurred by Mr. Smart during the course ...
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PAN, Aadhar compulsory for cash deposits, withdrawal above Rs 20 Lakhs
PAN, Aadhar compulsory for cash deposits, withdrawal above Rs 20 Lakhs
The CBDT vide Notification No. 53/2022-Income Tax, Dated: 10th May, 2022 has notified a new set of rules to amend the existing Income-tax Rules, 1962 which shall come into ...
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Does the New option of lower tax rates work for you?
Does the New option of lower tax rates work for you?
There is lots of confusion about new tax regime. People are not able to decide which one to opt for. Let us discuss the new tax regime.
Basics of scheme ...
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CBDT issues instructions for AOs to implement SC’s ruling upholding validity of old reassessment notices
CBDT issues instructions for AOs to implement SC’s ruling upholding validity of old reassessment notices
Instruction No. 01/2022, dated 11-05-2022
The Supreme Court of India in the case of Ashish Agarwal has adjudicated the validity of the reassessment notices issued by ...
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CONCEPT OF ANGEL TAX & TAXABILITY UNDER INCOME TAX ACT,1961
CONCEPT OF ANGEL TAX & TAXABILITY UNDER INCOME TAX ACT,1961
Dear Friends,
As you are aware that finance is the most important driving force in our society and the country. Your bank balance determines your status in the society. Your living ...
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No Reassessment Notices for AY 2013-14 & 2014-15 if escaped income is less than INR 50 Lakhs.
No Reassessment Notices for AY 2013-14 & 2014-15 if escaped income is less than INR 50 Lakhs.
CBDT has issued the instructions clarifying the scope of section 148 issued between prior to 01.04.2021 to 30.06.2021 pursuant to Supreme Court Ruling in ...
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Form 10BD required to be filed by Charitable Institutions: An Overview
Form 10BD Required to be filed by Charitable Institutions: An Overview
1). On 26th March, 2021 CBDT, through a notification, has notified (vide notification no 19/2021-Income Tax) that a Statement of Donation shall have to be filed with Income Tax ...
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Validation Rules for ITR 3
Validation Rules for ITR 3
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Applicability of Section 56(2) on Renouncing Rights Shares in Favour of the Assessee by non-related person is Liable to Tax u/s 56(2)
Applicability of Section 56(2) on Renouncing Rights Shares in Favour of the Assessee by non-related person is Liable to Tax u/s 56(2)
Income Tax Appellate Tribunal - Ahmedabad in the case of
Shri Jigar Jashwantlal Shah, ... vs The Acit, Circle-2(1)(1),, ...
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Mandatory deduction of 1/3rd of total consideration towards the value of land is arbitrary: Guj. HC
Mandatory deduction of 1/3rd of total consideration towards the value of land is arbitrary: Guj. HC
Munjaal Manishbhai Bhatt v. Union of India - [2022] 138 taxmann.com 117 (Gujarat)
Short Overview of the case:
Here is an interesting outcome on the real estate sector.
The ...
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reassessment notices issued under the unamended Section 148 of the Income Tax Act on or after April 1, 2021, will not be deemed to be invalid
Reassessment Notices issued under the unamended Section 148 of the Income Tax Act on or after April 1, 2021, will not be deemed to be invalid
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 3005/2022
Union of India & Ors. Versus Ashish Agarwal
THE SUPREME COURT ON HELD THAT the reassessment ...
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Applying Article 142 in the Income Tax Law for validating the reassessment proceeding: An overview
Applying Article 142 in the Income Tax Law for validating the reassessment proceeding: An overview
There are only two things which are certain in life- Death and Taxes
To do “Complete Justice”, for the first time in the history of Indian ...
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Applicability of Tax Audit on remuneration from Partnership firm
Applicability of Tax Audit on remuneration from Partnership firm
One of the common questions is with regard to the applicability of tax audit on the remuneration received by the partner from the firm.
The question arises as to whether it is ...
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SC holds reassessment notices issued under old regime deemed to be issued under Sec.148A
SC holds reassessment notices issued under old regime deemed to be issued under Sec.148A
The landmark and out of the box order is passed by the Hon’ble Supreme Courat wherein Article 142 of the Constitution is invoked which provides for ...
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Validity of adjustment u/s 143(1)(a) on the basis of views expressed by the tax auditor in tax audit report
Validity of adjustment u/s 143(1)(a) on the basis of views expressed by the tax auditor in tax audit report
There are various adjustment which is done to the retuned income by CPC while processing income tax return u/s 143(1)(a). In ...
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