IT JudgementCBDT has granted a further extension of timelines to comply with provisions of section 54 to 54GB.7 Jan 20230CBDT has granted a further extension of timelines to comply with provisions of section 54 to 54GB. F. No.…
IT JudgementSec. 80P deduction can’t be denied to the assessee merely on reason that it didn’t file return of income: ITAT7 Jan 20230Sec. 80P deduction can’t be denied to the assessee merely on reason that it didn’t file return of income: ITAT…
IT JudgementAdditions framed on account of alleged cash receipts not valid where no witnesses to such payments are available to testify & where based solely on a statement that some payments were made7 Jan 20230Additions framed on account of alleged cash receipts not valid where no witnesses to such payments are available to testify…
IT JudgementAdditional ground not raised before the CIT could be raised before the Tribunal: Calcutta HC7 Jan 20230Additional ground not raised before the CIT could be raised before the Tribunal: Calcutta HC Principal Commissioner of Income…
IT JudgementScience has not yet invented any instrument to test the reliability of the evidence placed before a Court or Tribunal- Supreme Court in CIT Vs. Durga Prasad More2 Jan 20230Science has not yet invented any instrument to test the reliability of the evidence placed before a Court or Tribunal-…
IT JudgementIf the cash sales and receipts are duly supported by relevant bills which were produced in the course of assessment proceedings, addition U/s 68 is unwarranted31 Dec 20220If the cash sales and receipts are duly supported by relevant bills which were produced in the course of assessment…
IT JudgementNo new material or facts came to the knowledge of the assessing officer- Reopening is invalid31 Dec 20220No new material or facts came to the knowledge of the assessing officer- Reopening is invalid There are various cases…
IT JudgementForeign tax credit cannot be denied merely due to delay in filing of Form 67: ITAT30 Dec 20220Foreign tax credit cannot be denied merely due to delay in filing of Form 67: ITAT Nirmala Murli Relwani…
IT JudgementReopening on the same set of facts which was available earlier is invalid: Calcutta High Court30 Dec 20220Reopening on the same set of facts which was available earlier is invalid: Calcutta High Court There are various cases…
IT JudgementShort Overview of the Circular No. 183 to 188 issues by CBIC29 Dec 20220Short Overview of the Circular No. 183 to 188 issues by CBIC Multiple circulars issued by CBIC on GST from…
IT JudgementExcess availment of Input tax credit pertaining for the FY 2017-18 & FY 2018-19: An overview of the circular No.183/15/2022 Dt.27/12/2022:28 Dec 20220Excess availment of Input tax credit pertaining for the FY 2017-18 & FY 2018-19: An overview of the circular No.183/15/2022…
IT JudgementPune ITAT allows deduction u/s. 80P(2)(a)(i) & 80P(2)(d) in respect of interest income on its investment27 Dec 20220Pune ITAT allows deduction u/s. 80P(2)(a)(i) & 80P(2)(d) in respect of interest income on its investment Despite a few contrary…
IT JudgementSection 50C cannot be applied to the sale agreement entered into before introduction of said section27 Dec 20220Section 50C cannot be applied to the sale agreement entered into before introduction of said section Whether section 50C would…
IT JudgementForm 10F isn’t compulsory to claim DTAA benefits while making foreign remittance26 Dec 20220Form 10F isn’t compulsory to claim DTAA benefits while making foreign remittance While there has been a recent buzz in…
IT JudgementWhether expenditure incurred in removing encumbrances has intimate connection with the transfer and is deductible?26 Dec 20220Whether expenditure incurred in removing encumbrances has intimate connection with the transfer and is deductible? Whether payment to persons…
IT JudgementIf agreement to sale was entered earlier prior to introduction of section 43CA, section 56(2)(vii) or section 50C the notional tax cannot be levied.26 Dec 20220If agreement to sale was entered earlier prior to introduction of section 43CA, section 56(2)(vii) or section 50C the notional…
IT JudgementPlain literal interpretation of statutory provision has to be avoided if results in absurd and unreasonable consequences: Supreme Court26 Dec 20220Plain literal interpretation of statutory provision has to be avoided if results in absurd and unreasonable consequences: Supreme Court …
IT JudgementWhether capital gain exemption could be denied if the builder fails to give Possession within 3 years?24 Dec 20220Whether capital gain exemption could be denied if the builder fails to give Possession within 3 years? Here is an…