Reopening on the same set of facts which was available earlier is invalid: Calcutta High Court
Reopening on the same set of facts which was available earlier is invalid: Calcutta High Court There are various cases…
Income Tax
Short Overview of the Circular No. 183 to 188 issues by CBIC
Short Overview of the Circular No. 183 to 188 issues by CBIC Multiple circulars issued by CBIC on GST from…
No taxation U/s 56(2)(vii) if the transaction of sale was pursuant to genuine agreement to sale entered earlier
No taxation U/s 56(2)(vii) if the transaction of sale was pursuant to genuine agreement to sale entered earlier …
No opportunity of cross-examination provided: HC quashed section 148 notice
No opportunity of cross-examination provided: HC quashed section 148 notice The issue was related to section 69C read with section…
Excess 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:
Excess availment of Input tax credit pertaining for the FY 2017-18 & FY 2018-19: An overview of the circular No.183/15/2022…
Pune ITAT allows deduction u/s. 80P(2)(a)(i) & 80P(2)(d) in respect of interest income on its investment
Pune ITAT allows deduction u/s. 80P(2)(a)(i) & 80P(2)(d) in respect of interest income on its investment Despite a few contrary…
Section 50C cannot be applied to the sale agreement entered into before introduction of said section
Section 50C cannot be applied to the sale agreement entered into before introduction of said section Whether section 50C would…
Need for dispute resolution scheme and unattractiveness of Settlement Commission :
Need for dispute resolution scheme and unattractiveness of Settlement Commission : Last week CBIC constituted benches of Settlement Commission.…
Form 10F isn’t compulsory to claim DTAA benefits while making foreign remittance
Form 10F isn’t compulsory to claim DTAA benefits while making foreign remittance While there has been a recent buzz in…
Whether expenditure incurred in removing encumbrances has intimate connection with the transfer and is deductible?
Whether expenditure incurred in removing encumbrances has intimate connection with the transfer and is deductible? Whether payment to persons…
31st December 2022: The Last Opportunity to file Belated and Revised ITR
31st December 2022: The Last Opportunity to file Belated and Revised ITR Even if the tax is fully paid or even…
Computation of capital-gains has to be made as per law existing as on the 1st day of April of the relevant assessment year
Computation of capital-gains has to be made as per law existing as on the 1st day of April of the…
If 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.
If agreement to sale was entered earlier prior to introduction of section 43CA, section 56(2)(vii) or section 50C the notional…
Plain literal interpretation of statutory provision has to be avoided if results in absurd and unreasonable consequences: Supreme Court
Plain literal interpretation of statutory provision has to be avoided if results in absurd and unreasonable consequences: Supreme Court …
If cash sales transaction is recorded in regular books of accounts, sales are made out of stock-in-trade then no addition U/s 68 could be sustained.
If cash sales transaction is recorded in regular books of accounts, sales are made out of stock-in-trade then no addition…
Whether capital gain exemption could be denied if the builder fails to give Possession within 3 years?
Whether capital gain exemption could be denied if the builder fails to give Possession within 3 years? Here is an…
Amendment to Section 50C effective from 1st April 2003 is retrospective in in Nature: Mumbai ITAT
Amendment to Section 50C effective from 1st April 2003 is retrospective in in Nature: Mumbai ITAT Here is an interesting…
Provisions of Section 68 are not applicable on the sale transactions recorded in the books of accounts as sales are already part of the income which is already credited in P&L account.
Provisions of Section 68 are not applicable on the sale transactions recorded in the books of accounts as sales are…
