Explanation 2 to section 263 inserted w.e.f. 01.06.2015 is prospective and applicable with effect from 1st June, 2015.
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Explanation 2 to section 263 inserted w.e.f. 01.06.2015 is prospective and applicable with effect from 1st June, 2015. …
IT Judgement
AO cannot change the valuation method from DCF to NAV: ITAT Chennai.
AO cannot change the valuation method from DCF to NAV: ITAT Chennai. M/s. Brio Bliss Life Science P Ltd.…
Karnataka HC directs Dept. to follow procedure prescribed in Circular to allow ITC for bonafide mistakes in returns for FY 19-20 as well
Karnataka HC directs Dept. to follow procedure prescribed in Circular to allow ITC for bonafide mistakes in returns for FY…
Reassessment proceedings under section 148 of Income-tax Act, 1961 cannot be initiated merely for verification of the information reflected on the Insight Portal.
Reassessment proceedings under section 148 of Income-tax Act, 1961 cannot be initiated merely for verification of the information reflected on…
Entire purchase amount of such bogus purchases cannot be added at best, the addition limited to the extent of G. P. Rate
Entire purchase amount of such bogus purchases cannot be added at best, the addition limited to the extent of G.…
If a person has only agricultural income and no other income, then no addition can be made to the total income unless and until the AO proves that the assessee has any other source of income which is taxable under the Income-tax Act: ITAT
If a person has only agricultural income and no other income, then no addition can be made to the total…
SCN must clearly mention specific reason for which the action is being taken
SCN must clearly mention specific reason for which the action is being taken Santosh Kumar Roy v. State…
Compensation received from developer pursuant to consumer court order is a capital receipt – Not liable for taxation
Compensation received from developer pursuant to consumer court order is a capital receipt – Not liable for taxation …
For AY 2006-07 there was no need to file ITR for claiming exemption U/S 54B: ITAT Bangalore
For AY 2006-07 there was no need to file ITR for claiming exemption U/S 54B: ITAT Bangalore Sri Thimmegowada Shekar…
Section 50C is not Applicable in case of compulsory acquisition of Land by the Govt where payment of stamp duty is not applicable.
Section 50C is not Applicable in case of compulsory acquisition of Land by the Govt where payment of stamp duty…
Seconded employees do not come under ‘FTS’ OR ‘FIS’: ITAT
Seconded employees do not come under ‘FTS’ OR ‘FIS’: ITAT M/s. Google LLC (IT(IT)A No. 167 & 688/Bang/2021/22) Facts:…
No additions based on statements of ex-employees & dealers without allowing assessee to crossing examine them: ITAT
No additions based on statements of ex-employees & dealers without allowing assessee to crossing examine them: ITAT ITAT Chandigarh has…
LTCG can’t be termed as genuine if shares purchased in cash were kept in broker’s pool a/c till actual sale: ITAT
LTCG can’t be termed as genuine if shares purchased in cash were kept in broker’s pool a/c till actual sale:…
No addition can be be made on hypothetical basis: ITAT Delhi
No addition can be be made on hypothetical basis: ITAT Delhi There are various cases wherein addition has been…
Karnataka High Court allowed changes in GSTR 3-B returns for the months of July 2017 and March 2018
Karnataka High Court allowed changes in GSTR 3-B returns for the months of July 2017 and March 2018 There is…
Who is entitled for TDS credit when the TDS is done in the name of the Partner and the Property is owned by firm
Who is entitled for TDS credit when the TDS is done in the name of the Partner and the Property…
Alternative remedy is not bar to jurisdictional issue through writ: Supreme Court
Alternative remedy is not bar to jurisdictional issue through writ: Supreme Court Here is a landmark order by the…
Sales tax subsidy is a capital receipt: ITAT Mumbai
Sales tax subsidy is a capital receipt: ITAT Mumbai Deputy Commissioner of Income Tax, CC, 2(2) Vs. M/s Vinati…
