Income Tax Archives - Page 255 of 590

Search & Seizure carried out by Inspector of CGST dept. without authority of a proper jurisdictional officer is unlawful: Delhi HC

5 years ago

Search & Seizure carried out by Inspector of CGST dept. without authority of a proper jurisdictional officer is unlawful: Delhi…

Income Tax

All about ITR forms: Applicability and Requirements

5 years ago

All about ITR forms: Applicability and Requirements What is ITR and why one should file ITR? Income Tax Return…

Income Tax

Income Tax Department conducts searches PAN-India in a prominent group having diversified businesses: Diversion of Funds, Bougs Expenses, Cyclical trading and transfer of funds amongst group companies

5 years ago

Income Tax Department conducts searches PAN-India in a prominent group having diversified businesses: Diversion of Funds, Bougs Expenses, Cyclical trading and transfer of funds amongst group companies Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 24th July, 2021 PRESS RELEASE Income Tax Department…

Income Tax

Guide to Registration by Casual Taxable Person:

5 years ago

Guide to Registration by Casual Taxable Person: I want to take a Registration as a Casual Taxable Person but…

Income Tax

When there is a Compulsory Withdrawal from Composition Levy

5 years ago

When there is a Compulsory Withdrawal from Composition Levy 1. What is meant by Compulsory Withdrawal from Composition Levy?…

Income Tax

INCOME THAT DOESN’T TAX YOU

5 years ago

INCOME THAT DOESN’T TAX YOU Income and Income Tax are normally coined together. Further, India follows progressive system of…

Income Tax

Merely because the assessee claimed deduction which has not been accepted by the Revenue do not amount to furnishing inaccurate particulars regarding the income of the assessee.

5 years ago

Merely because the assessee claimed deduction which has not been accepted by the Revenue do not amount to furnishing inaccurate…

Income Tax

Self-acquired property of deceased Hindu governed by Dayabhaga school devolving in heirs is an individual property and not HUF Property.

5 years ago

Self-acquired property of deceased Hindu governed by Dayabhaga school devolving in heirs is an individual property and not HUF Property.…

Income Tax

Corporate Social Responsibility: An Overview

5 years ago

Corporate Social Responsibility: An Overview Author CS. Devershi Gupta cs.devershigupta97@gmail.com Corporate Social Responsibility (CSR) is a management concept…

Income Tax

A proviso cannot be construed as enlarging the scope of an enactment when it can be fairly and properly construed without attributing to it that effect.

5 years ago

A proviso cannot be construed as enlarging the scope of an enactment when it can be fairly and properly construed…

Income Tax

A sudden search and seizure may unnerve the inmates of the place where the search is made. But this is to be expected: Supreme Court

5 years ago

A sudden search and seizure may unnerve the inmates of the place where the search is made. But this is…

Income Tax

In case money is borrowed by a newly started company which is in the process of constructing and erecting its plant, the interest incurred before the commencement of production on such borrowed money can be capitalised and added to the cost of the fixed assets: Supreme Court

5 years ago

In case money is borrowed by a newly started company which is in the process of constructing and erecting its…

Income Tax

No penalty should be imposed unless the party either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest: Supreme Court

5 years ago

No penalty should be imposed unless the party either acted deliberately in defiance of law or was guilty of conduct…

Income Tax

Stay of demand may be granted if additions were made are debatable and thus assessee has made prima facie case.

5 years ago

Stay of demand may be granted if additions were made are debatable and thus assessee has made prima facie case.…

Income Tax

Sale consideration cannot be determined only on the basis of Form 26AS.

5 years ago

Sale consideration cannot be determined only on the basis of Form 26AS. Jaya Prakash Vs ITO ITA No.1374/Bang/2018 Short…

Income Tax

Where the assessee objects to the adoption of stamp duty valuation as deemed sale consideration during the assessment proceedings, the AO is duty bound to make a reference to the DVO to determine the value of the property as per s. 50C(2).

5 years ago

Where the assessee objects to the adoption of stamp duty valuation as deemed sale consideration during the assessment proceedings, the…

Income Tax

For the purpose of determination of deemed consideration u/s 50C of the Act, stamp duty value of the property as on the date of execution of agreement to sale should be adopted, instead of value on the date of execution of sale deed.

5 years ago

For the purpose of determination of deemed consideration u/s 50C of the Act, stamp duty value of the property as…

Income Tax

No penalty for non audit if Assessee is prevented by reasonable cause for not getting its accounts audited u/s 44AB within prescribed time

5 years ago

No penalty for non audit if Assessee is prevented by reasonable cause for not getting its accounts audited u/s 44AB…

Income Tax

Search & Seizure carried out by Inspector of CGST dept. without authority of a proper jurisdictional officer is unlawful: Delhi HC

All about ITR forms: Applicability and Requirements

Income Tax Department conducts searches PAN-India in a prominent group having diversified businesses: Diversion of Funds, Bougs Expenses, Cyclical trading and transfer of funds amongst group companies

Guide to Registration by Casual Taxable Person:

When there is a Compulsory Withdrawal from Composition Levy

INCOME THAT DOESN’T TAX YOU

Merely because the assessee claimed deduction which has not been accepted by the Revenue do not amount to furnishing inaccurate particulars regarding the income of the assessee.

Self-acquired property of deceased Hindu governed by Dayabhaga school devolving in heirs is an individual property and not HUF Property.

A proviso cannot be construed as enlarging the scope of an enactment when it can be fairly and properly construed without attributing to it that effect.

A sudden search and seizure may unnerve the inmates of the place where the search is made. But this is to be expected: Supreme Court

In case money is borrowed by a newly started company which is in the process of constructing and erecting its plant, the interest incurred before the commencement of production on such borrowed money can be capitalised and added to the cost of the fixed assets: Supreme Court

No penalty should be imposed unless the party either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest: Supreme Court

Stay of demand may be granted if additions were made are debatable and thus assessee has made prima facie case.

Sale consideration cannot be determined only on the basis of Form 26AS.

Where the assessee objects to the adoption of stamp duty valuation as deemed sale consideration during the assessment proceedings, the AO is duty bound to make a reference to the DVO to determine the value of the property as per s. 50C(2).

For the purpose of determination of deemed consideration u/s 50C of the Act, stamp duty value of the property as on the date of execution of agreement to sale should be adopted, instead of value on the date of execution of sale deed.

No penalty for non audit if Assessee is prevented by reasonable cause for not getting its accounts audited u/s 44AB within prescribed time

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