“Expenditure” covers even a case of loss even though the said amount has not gone out from the pocket of the assessee.
“Expenditure” covers even a case of loss even though the said amount has not gone out from the pocket of…
Income Tax
Action of competent authority in collecting amount from petitioner towards tax and penalty under threat of detention of vehicle carrying goods for an absurd reason (‘wrong destination’) when the vehicle in question carried all the proper documents evidencing that it was an inter-State sale transaction was clearly arbitrary, violative of Articles 14, 265 and 300-A of Constitution of India: HC
Action of competent authority in collecting amount from petitioner towards tax and penalty under threat of detention of vehicle carrying goods for…
Manipulation in income having tax effect of Rs. 350 crore found during search on leading film actress/producer: CBDT
Manipulation in income having tax effect of Rs. 350 crore found during search on leading film actress/producer: CBDT Press Release,…
Court directed GSTN to allow the petitioner to rectify his entries in GSTR- 3B return which was submitted by the petitioner mistakenly on account of genuine bonafide human error
Court directed GSTN to allow the petitioner to rectify his entries in GSTR- 3B return which was submitted by the…
Amounts received by employees under a Voluntary Retirement Scheme are entitled to relief under Section 89 (1) in addition to the exemption granted under Section 10 (10C) (viii)
Amounts received by employees under a Voluntary Retirement Scheme are entitled to relief under Section 89 (1) in addition to…
Key Highlights of Maharashtra Budget 2021-22
Key Highlights of Maharashtra Budget 2021-22 A concession of 1 per cent was announced in stamp duty over the prevailing…
There is no legal justification for withholding the amount which is otherwise refundable to the assessees in passing of any assessment orders for the relevant assessment years
There is no legal justification for withholding the amount which is otherwise refundable to the assessees in passing of any…
Revised LFAR in Bank Audit : 23 new detailed qualitative and quantitative reporting requirements
Revised LFAR in Bank Audit : 23 new detailed qualitative and quantitative reporting requirements No More “YES, NO, N/A” IN…
Goods Value Rs. 4.49 Lakh but RTP supply them on Rs. 8.99 only, No Eway Bill required as Value of Supply in Tax Invoice is less than 50K.
Goods Value Rs. 4.49 Lakh but RTP supply them on Rs. 8.99 only, No Eway Bill required as Value of…
Charitable trust: Whether Registration under section 12AA is allowable if Assessee-society established and registered abroad and not in India?
Charitable trust: Whether Registration under section 12AA is allowable if Assessee-society established and registered abroad and not in India? Short…
Validity of denial of accumulation of income of trust merely for the reason that purpose specified in Form No.10 is vague and general in nature
Validity of denial of accumulation of income of trust merely for the reason that purpose specified in Form No.10 is…
Capital Gain (LTCG) or Business income: Its all about intention at the time of purchase
Capital Gain (LTCG) or Business income: Its all about intention at the time of purchase ITAT BANGALORE SHRI. BABULAL, M/S.…
Rs. 65 Cr worth of Assets of Naresh Jain attached in Jain Diary Hawala Case
Rs. 65 Cr worth of Assets of Naresh Jain attached in Jain Diary Hawala Case
No addition u/s 68 sustainable if assessee is not maintaining books of accounts due to presumptive scheme of taxation
No addition u/s 68 sustainable if assessee is not maintaining books of accounts due to presumptive scheme of taxation …
Belated filing of income Tax Return & allowability of deduction u/s 80P
Belated filing of income Tax Return & allowability of deduction u/s 80P KARNATAKA HIGH COURT PRL. COMMISSIONER OF INCOME…
Clarification on the Immunnity provided u/s 270AA of the Income Tax Act – 1961
Clarification on the Immunnity provided u/s 270AA of the Income Tax Act – 1961
Now taxpayers having turnover exceeding Rs 50 Crores will have to generate e Invoices effective April 1, 2021.
Now taxpayers having turnover exceeding Rs 50 Crores will have to generate e Invoices effective April 1, 2021. Notification issued…
Making March Meaningful – Tax caution before March Ends
Making March Meaningful – Tax caution before March Ends For better tax optimization, Taxpayers need to adopt the pre-mortem approach…
