Income TaxWhat you should do after income tax department has approached ITAT against favourable order of CIT (a)16 Jun at 3:37 am0What you should do after income tax department has approached ITAT against favourable order of CIT (a) QUERY: Against addition,…
Income TaxCan You Have Your Exemption and Carry Forward Losses Too? A 54F Story16 Jun at 1:42 am0Can You Have Your Exemption and Carry Forward Losses Too? A 54F Story In response to my earlier articles published…
Income TaxSource of source in respect of loans not required to be proved under section 68 of the ITA as it stood prior to 01.04.202314 Jun at 10:08 am0Source of source in respect of loans not required to be proved under section 68 of the ITA as it…
Income TaxGuidelines for Compulsory Selection of Returns for Complete Serutiny during the Financial Year 202-26-procedure for compulsory selection in such case14 Jun at 6:38 am0Guidelines for Compulsory Selection of Returns for Complete Serutiny during the Financial Year 202-26-procedure for compulsory selection in such case…
Income TaxDisallowance of delayed employee contributions to EPF/ESI U/s 36(1)(va) not valid if made by CPC U/s 143(1)(a) as the issue was debatable at that point of time: Chhattisgarh High Court14 Jun at 6:03 am0Disallowance of delayed employee contributions to EPF/ESI U/s 36(1)(va) not valid if made by CPC U/s 143(1)(a) as the issue…
Income TaxReopening relying on information flagged by GST department that the supplier is a dummy/non-existent entity quashed by ITAT13 Jun at 9:27 am0Reopening relying on information flagged by GST department that the supplier is a dummy/non-existent entity quashed by ITAT Delhi…
Income TaxAny attempt to reopen and revive the proceedings-after the limited is legally untenable13 Jun at 7:14 am0Any attempt to reopen and revive the proceedings-after the limited is legally untenable The Hon’ble Delhi High Court has…
Income TaxIf the Commissioner (Appeals) proceeds to decide the appeal on merits without first condoning the delay, such an order is liable to be set aside.13 Jun at 6:46 am0If the Commissioner (Appeals) proceeds to decide the appeal on merits without first condoning the delay, such an order is…
Income TaxTrent’s Strategic Shift: Balancing Partnerships and Homegrown Strengths13 Jun at 3:35 am0In a dynamic move within the fashion retail sector, Tata’s Trent is adjusting its business strategy by scaling back its…
Income TaxInvocation of Sec 68/69 in case of transfer from abroad to NRE Accounts:13 Jun at 3:02 am0Invocation of Sec 68/69 in case of transfer from abroad to NRE Accounts: Issue: It is common for NRIs to…
Income Tax7 additional information and details required in ITR-1 and ITR-4 for A.Y. 2025–26, especially for taxpayers in the Old Regime:12 Jun at 3:49 am07 additional information and details required in ITR-1 and ITR-4 for A.Y. 2025–26, especially for taxpayers in the Old Regime:…
Income TaxOnce the source of cash is accepted and taxed under Section 269SS, second addition under Section 69A on the same amount is impermissible and amounted to double taxation.12 Jun at 2:56 am0Once the source of cash is accepted and taxed under Section 269SS, second addition under Section 69A on the same…
Income TaxPurchase price of alleged penny stock cannot be disputed in year of sale of such stock.12 Jun at 2:30 am0Purchase price of alleged penny stock cannot be disputed in year of sale of such stock. Purchase price of…
Income TaxThere is no requirement to file the books of account and vouchers if assessee has income u/s 44AD12 Jun at 2:14 am0There is no requirement to file the books of account and vouchers if assessee has income u/s 44AD Where…
Income TaxPurchasers cannot be left at the mercy of the seller as they can also not compel the selling dealer to file the return within stipulated time and deposit the tax Collected.11 Jun at 9:38 am0Purchasers cannot be left at the mercy of the seller as they can also not compel the selling dealer to file…
Income TaxNotice under Section 148 Issued by Jurisdictional AO Instead of Following Faceless Assessment Scheme: ITAT Quashed the proceeding11 Jun at 6:41 am0Notice under Section 148 Issued by Jurisdictional AO Instead of Following Faceless Assessment Scheme: ITAT Quashed the proceeding ITAT…
Income TaxClaim Based on Prevailing HC Ruling Not Inaccurate: ITAT Quashes Penalty Under Section 271(1)(c)11 Jun at 6:23 am0Claim Based on Prevailing HC Ruling Not Inaccurate: ITAT Quashes Penalty Under Section 271(1)(c) The assessee, Intervalve Poonawalla Pvt.…
Income TaxReassessment quashed as no addition is made on the basis of the reason recorded for reopening11 Jun at 3:53 am0Reassessment quashed as no addition is made on the basis of the reason recorded for reopening Tax Tribunal Quashes Reassessment…