The statute does not provide for any provision for lapsing of unutilized input tax credit for non filing of TRAN-1: Kerala HC
The statute does not provide for any provision for lapsing of unutilized input tax credit for non filing of TRAN-1:…
Income Tax
Whether cash seized during search can be adjusted against the tax liability?
Whether cash seized during search can be adjusted against the tax liability? ITAT BANGALORE BENCH ‘A’ M.J. Ramani Versus…
It is axiomatic that computer literacy has not reached its pinnacle in our country. Technical glitches at the transition stage to GST should not affect above said statutory right of dealers: Kerala HC
It is axiomatic that computer literacy has not reached its pinnacle in our country. Technical glitches at the transition stage…
No retrospecive applicability – Finally big relief for Vodophone and Cairns.
No retrospecive applicability – Finally big relief for Vodophone and Cairns. The Taxation Laws (Amendment ) Bill, 2021 introduced…
AO does not assess income for which reasons were recorded u/s 147, he cannot assess other income u/s 147
AO does not assess income for which reasons were recorded u/s 147, he cannot assess other income u/s 147 …
Extension of Due Date of Various forms under Income Tax which were due on 31st July done today in view of glitches in new portal
Extension of Due Date of Various forms under Income Tax which were due on 31st July done today in view…
Assessing Officer is not required to disclose the “Reason to believe to conduct a search” on the taxpayers
Assessing Officer is not required to disclose the “Reason to believe to conduct a search” on the taxpayers Finance…
Section 80P Deduction allowable to Co-Operative Credit Society as it is not a Co-Operative Bank: ITAT
Section 80P Deduction allowable to Co-Operative Credit Society as it is not a Co-Operative Bank: ITAT The Kem Hospital…
Exhaustive Business Compliance Calendar for August-2021
Exhaustive Business Compliance Calendar for August-2021 INCOME TAX TDS 07th August 2021- TDS deducted /TCS collected for the month…
Whether amount yet to be received can be taxed on a hypothetical assumption arising from the amount to be received?
Whether amount yet to be received can be taxed on a hypothetical assumption arising from the amount to be received? …
Claim of deduction towards TDS receivable written off, its disallowance by Assessing Officer and Validity of Penalty levied
Claim of deduction towards TDS receivable written off, its disallowance by Assessing Officer and Validity of Penalty levied Claim…
Capital Gain exemption cannot be denied on the ground that Sale Deed has not yet been got registered
Capital Gain exemption cannot be denied on the ground that Sale Deed has not yet been got registered+ There…
Compliance chart for August 2021
Compliance chart for August 2021 COMPLIANCE CHART FO RAUGUST2021 …
Deduction is available towards Construction of houses for the needy persons by the assessee as it was not only as a social responsibility but also keeping in mind the goodwill and benefit it would yield in the long run in earning profit: Karnatak HC
Deduction is available towards Construction of houses for the needy persons by the assessee as it was not only as…
Payment in a lump sum does not necessarily make the payment a capital one. It may still possess revenue character in the same way as a series of payments and may be eligible for deduction: Supreme Court
Payment in a lump sum does not necessarily make the payment a capital one. It may still possess revenue character…
The membership fees received by the trade association are not related to any specific services rendered by it to its members and hence it is not taxable.
The membership fees received by the trade association are not related to any specific services rendered by it to its…
Non-interest bearing deposits received by assessee from letting out its premises could not be subject-matter of addition by recourse to s. 28(iv)
Non-interest bearing deposits received by assessee from letting out its premises could not be subject-matter of addition by recourse to…
Reopening of assessment u/s 147 on mere change of opinion is not permissible. If the AO while framing original assessment has taken a view, he cannot turn around subsequently on change of opinion
Reopening of assessment u/s 147 on mere change of opinion is not permissible. If the AO while framing original assessment…
