Income Tax

IT Judgement

No penalty u/s 43 of Black Money Act (BMA) for non-disclosure of foreign asset in ITR, if source was explained & assessee’s conduct was bonafide

4 years ago

No penalty u/s 43 of Black Money Act (BMA) for non-disclosure of foreign asset in ITR, if source was explained…

IT Judgement

Interest payment to related parties @ 18% and AO allowing only 12%: Validity of the disallowance of 6%

4 years ago

Interest payment to related parties @ 18% and AO allowing only 12%: Validity of the disallowance of 6% Disallowance of…

IT Judgement

AO has no right to treat Trust’s registration granted by Commissioner (Exemption) as invalid to deny exemption: ITAT

4 years ago

AO has no right to treat Trust’s registration granted by Commissioner (Exemption) as invalid to deny exemption: ITAT There are…

IT Judgement

Interest to be charged in case of tax not paid before due date and not for late filing of GSTR-3B: Jharkhand HC

4 years ago

Interest to be charged in case of tax not paid before due date and not for late filing of GSTR-3B:…

IT Judgement

Payment through Agent and validity of disallowance u/s 40A(3) in respect of cash payments made over the statutory limit

4 years ago

Payment through Agent and validity of disallowance u/s 40A(3) in respect of cash payments made over the statutory limit Section…

IT Judgement

Reassessment initiated merely on basis of an audit objection not valid: HC

4 years ago

Reassessment initiated merely on basis of an audit objection not valid: HC There are a lot of taxpayers who have…

Income Tax

Estate & Succession Planning through Wills, Private Trusts & Nomination (I)

4 years ago

Estate & Succession Planning through Wills, Private Trusts & Nomination (I) Wealth is built to be enjoyed and passed on…

Income Tax

TDS credit should not be denied merely due to wrong entry of PAN number: ITAT

4 years ago

TDS credit should not be denied merely due to wrong entry of PAN number: ITAT Kolkata ITAT has recently…

Income Tax

Trust for the benefit of the Minor: Clubbing Provisions of Section 64(1)(v) have no application

4 years ago

Trust for the benefit of the Minor: Clubbing Provisions of Section 64(1)(v) have no application Here is a copy of the…

Income Tax

Notification No. 2/ 2022 released for specifying the Format, Procedure and Guidelines for submission of Forms for Securities Transaction Tax (STT) .

4 years ago

Notification No. 2/ 2022 released for specifying the Format, Procedure and Guidelines for submission of Forms for Securities Transaction Tax…

Income Tax

Filing of a suit against Partnership Firm & Its Partners: Decree passed against a Firm is binding on all persons who were partners

4 years ago

Filing of a suit against Partnership Firm & Its Partners: Decree passed against a Firm is binding on all persons who…

Income Tax

NFRA penalises CA for not reporting ‘material misstatements’ in listed companies Financial Statements

4 years ago

NFRA penalises CA for not reporting ‘material misstatements’ in listed companies Financial Statements NFRA imposes a penalty of…

IT Judgement

Without any material to substantiate that assessee has not committed any violation of section 269SS of the Act, Penalty U/s 271D cannot be deleted

4 years ago

Without any material to substantiate that assessee has not committed any violation of section 269SS of the Act, Penalty U/s…

Income Tax

CIT(A) deleted the addition made by the AO without calling for the remand report of the AO- ITAT remanded back the case to AO

4 years ago

CIT(A) deleted the addition made by the AO without calling for the remand report of the AO- ITAT remanded back…

Income Tax

Presumptive scheme of taxation for earlier years & Additions on the ground of bogus sundry creditors during assessment

4 years ago

Presumptive scheme of taxation for earlier years & Additions on the ground of bogus sundry creditors during assessment TAT…

Income Tax

Revenue cannot in unilateral proceedings disallow expenditure U/s 143(1) without affording an opportunity to the assessee

4 years ago

Revenue cannot in unilateral proceedings disallow expenditure U/s 143(1) without affording an opportunity to the assessee There…

Income Tax

Government & CBDT taking seriously the casual approach of the Officers in Faceless Assessment Scheme

4 years ago

Government & CBDT taking seriously the casual approach of the Officers in Faceless Assessment Scheme The system of…

Income Tax

Income Tax Appeal may be filed even by the struck off company too: ITAT

4 years ago

Income Tax Appeal may be filed even by the struck off company too: ITAT ITTA Delhi has recently held…

Income Tax

No penalty u/s 43 of Black Money Act (BMA) for non-disclosure of foreign asset in ITR, if source was explained & assessee’s conduct was bonafide

Interest payment to related parties @ 18% and AO allowing only 12%: Validity of the disallowance of 6%

AO has no right to treat Trust’s registration granted by Commissioner (Exemption) as invalid to deny exemption: ITAT

Interest to be charged in case of tax not paid before due date and not for late filing of GSTR-3B: Jharkhand HC

Payment through Agent and validity of disallowance u/s 40A(3) in respect of cash payments made over the statutory limit

Reassessment initiated merely on basis of an audit objection not valid: HC

Estate & Succession Planning through Wills, Private Trusts & Nomination (I)

TDS credit should not be denied merely due to wrong entry of PAN number: ITAT

Trust for the benefit of the Minor: Clubbing Provisions of Section 64(1)(v) have no application

Notification No. 2/ 2022 released for specifying the Format, Procedure and Guidelines for submission of Forms for Securities Transaction Tax (STT) .

Filing of a suit against Partnership Firm & Its Partners: Decree passed against a Firm is binding on all persons who were partners

NFRA penalises CA for not reporting ‘material misstatements’ in listed companies Financial Statements

Without any material to substantiate that assessee has not committed any violation of section 269SS of the Act, Penalty U/s 271D cannot be deleted

CIT(A) deleted the addition made by the AO without calling for the remand report of the AO- ITAT remanded back the case to AO

Presumptive scheme of taxation for earlier years & Additions on the ground of bogus sundry creditors during assessment

Revenue cannot in unilateral proceedings disallow expenditure U/s 143(1) without affording an opportunity to the assessee

Government & CBDT taking seriously the casual approach of the Officers in Faceless Assessment Scheme

Income Tax Appeal may be filed even by the struck off company too: ITAT

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