IT JudgementCalcutta HC quashes Assessment Order passed under old surrendered PAN27 Aug 20220Calcutta HC quashes Assessment Order passed under old surrendered PAN Shakuntala Sales Incorporation (W.P.A. 17644 of 2022) Facts: The main…
IT JudgementShow Cause Notice (SCN) can’t be issued in respect of transactions which took place more than 8 years back, where law requires record to be maintained for 8 years: SC26 Aug 20220Show Cause Notice (SCN) can’t be issued in respect of transactions which took place more than 8 years back, where…
IT Judgementपिक्चर अभी बाकी है – Union of India Vs. Ashish Agarwal decided on 04.05.2022 challenged before P & H High Court25 Aug 20220पिक्चर अभी बाकी है – Union of India Vs. Ashish Agarwal decided on 04.05.2022 challenged before P & H High…
IT JudgementThe Twist: Union of India Vs. Ashish Agarwal decided on 04.05.2022 challenged before P & H High Court25 Aug 20222 CommentsThe Twist: Union of India Vs. Ashish Agarwal decided on 04.05.2022 challenged before P & H High Court The…
IT JudgementSupreme Court Declares Section 3(2) and 5 Of Benami Transactions Prohibition Act As Unconstitutional; 2016 Amendment Act To Have Only Prospective Effect25 Aug 20220Supreme Court Declares Section 3(2) and 5 Of Benami Transactions Prohibition Act As Unconstitutional; 2016 Amendment Act To Have Only…
IT Judgement2016 Amendment to Benami Act can’t be applied retroactively to transactions entered into before 25-10-2016: Apex Court24 Aug 202202016 Amendment to Benami Act can’t be applied retroactively to transactions entered into before 25-10-2016: Apex Court 2016 Amendment…
IT JudgementGenuineness of a Will has to be ascertained before disregarding the same: ITAT Allahabad22 Aug 20220Genuineness of a Will has to be ascertained before disregarding the same: ITAT Allahabad Shri Gaus Mohammad (ITA No. 104/Alld/…
IT JudgementDepreciation can be claimed on assets not in use, once they are a part of block of assets: ITAT Kolkata20 Aug 20220Depreciation can be claimed on assets not in use, once they are a part of block of assets: ITAT Kolkata …
IT JudgementCompensation received by flat owner in redevelopment agreement and its taxation20 Aug 20220Compensation received by flat owner in redevelopment agreement and its taxation Here is an important judgement on the taxability of compensation from…
IT JudgementCOMPENSATION PAYABLE IN CASE OF DEATH OF A CHILD IN AN ACCIDENT.19 Aug 20220COMPENSATION PAYABLE IN CASE OF DEATH OF A CHILD IN AN ACCIDENT. As you are aware that “Accident”, the…
IT JudgementCBDT amends Rule 17 & Form 10 providing accumulation of income.18 Aug 20221 CommentCBDT amends Rule 17 & Form 10 providing accumulation of income. CBDT amends Rule 17 & Form 10 providing…
IT JudgementCBIC issued guidelines for arrest and bail in relation to offences punishable under CGST Act and for issuance of summons u/s 70 of CGST Act.18 Aug 20220CBIC issued guidelines for arrest and bail in relation to offences punishable under CGST Act and for issuance of summons…
IT JudgementOfficers of the department must not take advantage of ignorance of an assessee as to his rights and that it is one of their duties to assist a tax payer in every reasonable way13 Aug 20220Officers of the department must not take advantage of ignorance of an assessee as to his rights and that it…
IT JudgementValuation is a matter of opinion / estimation: No addition should be made for reasonable difference between the expenditure actually incurred vis a vis valuation done by DVO12 Aug 20220Valuation is a matter of opinion / estimation: No addition should be made for reasonable difference between the expenditure actually…
IT JudgementHeavy Gold Jewellery received as ‘Streedhan’ and found in income tax raid vs. validity of its addition12 Aug 20220Heavy Gold Jewellery received as ‘Streedhan’ and found in income tax raid vs. validity of its addition Shri Gyanendra Singh…
Income TaxIT JudgementPayments made to UK company under Shared Services Agreement are not Taxable as Royalty: ITAT Mumbai11 Aug 20220Payments made to UK company under Shared Services Agreement are not Taxable as Royalty: ITAT Mumbai Deloitte Haskins &…
IT JudgementIf AO passes assessment order after due application of mind with proper enquiries – Proceedings u/s 263 would be bad in law10 Aug 20220If AO passes assessment order after due application of mind with proper enquiries – Proceedings u/s 263 would be bad…
IT Judgement“Order U/s 148A(d) cannot travel beyond show cause notice” is a good law even under the new reassessment scheme which is effective from 01.04.2021.9 Aug 20221 Comment“Order U/s 148A(d) cannot travel beyond show cause notice” is a good law even under the new reassessment scheme which…