Income Tax

Charitable Trust: Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which is rectifiable- Mumbai ITAT

4 years ago

Charitable Trust: Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which…

Income Tax

Assessee can’t escape Sec. 43B disallowance by crediting GST amount to B/S instead of taking it in P&L a/c: ITAT

4 years ago

Assessee can’t escape Sec. 43B disallowance by crediting GST amount to B/S instead of taking it in P&L a/c: ITAT…

Income Tax

Rs. 250 Cr of unaccounted income detected by IT officials

4 years ago

Rs. 250 Cr of unaccounted income detected by IT officials The IT department has detected “unaccounted” income of more than…

Income Tax

Robbery amount recovered by Police – Whether can be return to the Taxpayers even if the Income-tax Dept. has initiated section 132 proceedings?

4 years ago

Robbery amount recovered by Police – Whether can be return to the Taxpayers even if the Income-tax Dept. has initiated…

Income Tax

Compliance Calendar for Sept-2022

4 years ago

Compliance Calendar for Sept-22 INCOME TAX 07th Sept 2022- Due date for TDS/TCS payment for August’22. 15th Sept…

Income Tax

Assessee can’t have custody of robbed cash recovered by police once the Income-tax Dept. has initiated section 132 proceedings: HC

4 years ago

Assessee can’t have custody of robbed cash recovered by police once the Income-tax Dept. has initiated section 132 proceedings: HC…

Income Tax

Change with regard to reporting of ITC in Table 4 of GSTR-3B now available on GSTN portal

4 years ago

Change with regard to reporting of ITC in Table 4 of GSTR-3B now available on GSTN portal Changes related to…

Income Tax

Compensation for compulsory acquisition of Land: Not taxable even if there is no specific exemption provision in the Income-tax Act of 1961

4 years ago

Compensation for compulsory acquisition of Land: Not taxable even if there is no specific exemption provision in the Income-tax Act…

IT Judgement

Validity of Reopening on a new ground different from the ground on which notice was issued U/s 148A

4 years ago

Validity of Reopening on a new ground different from the ground on which notice was issued U/s 148A The…

Income Tax

Bad Debts Written Off: If a provision for expense is expressly excluded from Section 36 (1) (vii) then such a provision cannot claim deduction under Section 37 of the IT Act even on the basis of “real income theory”.

4 years ago

Bad Debts Written Off: If a provision for expense is expressly excluded from Section 36 (1) (vii) then such a…

IT Judgement

Sum paid by custom house agent to container freight station agent is liable to sec. 194C TDS: ITAT

4 years ago

Sum paid by custom house agent to container freight station agent is liable to sec. 194C TDS: ITAT The issue…

IT Judgement

Amendment in section 36(1)(va by the Finance Act- 2021 don’t have the retrospective application: Nagpur ITAT

4 years ago

Amendment in section 36(1)(va by the Finance Act- 2021 don’t have the retrospective application: Nagpur ITAT ITAT Nagpur bench in…

IT Judgement

Reopening Proceedings Quashed by Calcutta High Court as the information has been lightly used which resulted in issuance of notice.

4 years ago

Reopening Proceedings Quashed by Calcutta High Court as the information has been lightly used which resulted in issuance of notice. …

Income Tax

Compensation for compulsory acquisition of Land, whether agricultural or non agricultural is exempted from Income Tax: ITAT

4 years ago

Compensation for compulsory acquisition of Land, whether agricultural or non agricultural is exempted from Income Tax: ITAT The two-member…

Income Tax

Bombay High Court also stays the reassessment preceding beyond 6 Years- An interim relief Granted

4 years ago

Bombay High Court also stays the reassessment preceding beyond 6 Years- An interim relief Granted The litigation post Ashish…

IT Judgement

Delhi High Court also admitted petition against reopening U/s 148A(d) -Granted Interim Relief

4 years ago

Delhi High Court also admitted petition against reopening U/s 148A(d) -Granted Interim Relief In this case, the learned counsel for…

IT Judgement

Reassessment proceeding beyond 6 Years stayed by Calcutta High Court as an interim relief

4 years ago

Reassessment proceeding beyond 6 Years stayed by Calcutta High Court as an interim relief The litigation post Ashish Kumar Agarwal…

Income Tax

Quashing of Benami Law’s Retrospective Effect: A short Overview

4 years ago

Quashing of Benami Law’s Retrospective Effect: A short Overview Supreme Court in the case of Ganpati Dealcom Private Limited…

Income Tax

Charitable Trust: Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which is rectifiable- Mumbai ITAT

Assessee can’t escape Sec. 43B disallowance by crediting GST amount to B/S instead of taking it in P&L a/c: ITAT

Rs. 250 Cr of unaccounted income detected by IT officials

Robbery amount recovered by Police – Whether can be return to the Taxpayers even if the Income-tax Dept. has initiated section 132 proceedings?

Compliance Calendar for Sept-2022

Assessee can’t have custody of robbed cash recovered by police once the Income-tax Dept. has initiated section 132 proceedings: HC

Change with regard to reporting of ITC in Table 4 of GSTR-3B now available on GSTN portal

Compensation for compulsory acquisition of Land: Not taxable even if there is no specific exemption provision in the Income-tax Act of 1961

Validity of Reopening on a new ground different from the ground on which notice was issued U/s 148A

Bad Debts Written Off: If a provision for expense is expressly excluded from Section 36 (1) (vii) then such a provision cannot claim deduction under Section 37 of the IT Act even on the basis of “real income theory”.

Sum paid by custom house agent to container freight station agent is liable to sec. 194C TDS: ITAT

Amendment in section 36(1)(va by the Finance Act- 2021 don’t have the retrospective application: Nagpur ITAT

Reopening Proceedings Quashed by Calcutta High Court as the information has been lightly used which resulted in issuance of notice.

Compensation for compulsory acquisition of Land, whether agricultural or non agricultural is exempted from Income Tax: ITAT

Bombay High Court also stays the reassessment preceding beyond 6 Years- An interim relief Granted

Delhi High Court also admitted petition against reopening U/s 148A(d) -Granted Interim Relief

Reassessment proceeding beyond 6 Years stayed by Calcutta High Court as an interim relief

Quashing of Benami Law’s Retrospective Effect: A short Overview

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