No penalty U/s 271(1)(b) if the assessment is completed U/s 143(3) & not ex-parte U/s 144
No penalty U/s 271(1)(b) if the assessment is completed U/s 143(3) & not ex-parte U/s 144 The imposition…
Income Tax
Bombay High Court allows deduction u/s 80IB(10) on issuance of completion certificate
Bombay High Court allows deduction u/s 80IB(10) on issuance of completion certificate The Principal Commissioner of Income Tax-17 Versus…
Penalty u_s 271(1)(c) cannot be levied on debatable issue!
Penalty u_s 271(1)(c) cannot be levied on debatable issue! IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFOREMRS.…
In order to get the benefit under Section 54F, taxpayer need not complete the construction of the house and occupy the same: Madras High Court
In order to get the benefit under Section 54F, taxpayer need not complete the construction of the house and occupy the…
Deemed Dividend Taxation U/s 2(22)(e): Accumulated profit will include current year profit as well?
Deemed Dividend Taxation U/s 2(22)(e): Accumulated profit will include current year profit as well? Here is an interesting case before…
Validity of addition done pursuant to the statements of the third party without any incriminating material
Validity of addition done pursuant to the statements of the third party without any incriminating material Here is…
Failure of the builder to handover the possession of the property Vs. Capital Gain Exemption
Failure of the builder to handover the possession of the property Vs. Capital Gain Exemption Any profit arising from…
Department must not take advantage of ignorance of assessee to collect more tax than what is legitimately due: CBDT
Department must not take advantage of ignorance of assessee to collect more tax than what is legitimately due: CBDT …
Deputy Commision of Income Tax sentenced to Jail for a week by Allahabad HC
Deputy Commision of Income Tax sentenced to Jail for a week by Allahabad HC Here is an order by…
Section 80P(2)(d) deduction is permissible on Interest income of the Co-operative society from co- operative bank
Section 80P(2)(d) deduction is permissible on Interest income of the Co-operative society from co- operative bank The issue…
“In case he is not punished, it would send down a wrong signal to other officials of Income Tax Department ” – One week Imprisonment to DCIT by High Court
“In case he is not punished, it would send down a wrong signal to other officials of Income Tax Department…
SOP on filing of Appeals /SLPs by the Income Tax Department in the Supreme Court and other related matters
SOP on filing of Appeals /SLPs by the Income Tax Department in the Supreme Court and other related matters ITAT…
Use of car for personal use as well: ITAT disallowed 20% of depreciation as no log book for usage of car maintained
Use of car for personal use as well: ITAT disallowed 20% of depreciation as no log book for usage of…
Co-operative bank continues to be a co-operative society & Interest income on investment with a co- operative bank is eligible for deduction under section 80P(2)(d)
Co-operative bank continues to be a co-operative society & Interest income on investment with a co- operative bank is eligible…
Different flats sold by builders to different persons at different rates: Whether AO can apply a higher rate to all the flats?
Different flats sold by builders to different persons at different rates: Whether AO can apply a higher rate to all…
Saving surcharge on income tax by way of having the Partnership Firm:
Saving surcharge on income tax by way of having the Partnership Firm: Partnership firm is one of the most…
Income Tax Exemption to Trust u/s 11 cannot be Denied Merely due to Delay in furnishing of Audit Report in Form 10B: ITAT
Income Tax Exemption to Trust u/s 11 cannot be Denied Merely due to Delay in furnishing of Audit Report in…
Relaxation for filing electronic Form 10F by non-resident taxpayers
Relaxation for filing electronic Form 10F by non-resident taxpayers CBDT has issued the Notification No. 3/2022 dated 12 December…
