Order passed u/s 144C without intimating variations in income through draft assessment order set aside by ITAT
Order passed u/s 144C without intimating variations in income through draft assessment order set aside by ITAT INCOME TAX: An…
Income Tax
MAT credit not available to companies opting for new tax regime of 22%
MAT credit not available to companies opting for new tax regime of 22%
Capital gains exemption under section 54EC if there is a delay in receipt of sale consideration amount and amount is invested after prescribed time period
Capital gains exemption under section 54EC if there is a delay in receipt of sale consideration amount and amount is…
Expenses incurred after setting up of business but before the commencement of business are deductible as revenue expenses.
Expenses incurred after setting up of business but before the commencement of business are deductible as revenue expenses. Short Overview…
Disallowance under section 14A cannot surpass quantum of exempt income
Disallowance under section 14A cannot surpass quantum of exempt income Short Overview : Disallowance under section 14A cannot surpass the quantum…
No books of accounts maintained – No Penalty under section 271B for Failure to get its audited
No books of accounts maintained – No Penalty under section 271B for Failure to get its audited Short Overview : When…
Additions upheld as assessee claimed TDS but didn’t offer corresponding income in ITR
Additions upheld as assessee claimed TDS but didn’t offer corresponding income in ITR INCOME TAX : Where assessee had claimed…
Action for TCS default can be taken within a reasonable period only even if no limitation period is prescribed under the Act
Action for TCS default can be taken within a reasonable period only even if no limitation period is prescribed under…
Addition can not be deleted on ground that assessee used to show higher stock to avail high cash credit limit from bank
Addition can not be deleted on ground that assessee used to show higher stock to avail high cash credit limit…
Completed assessment could not be interfered with while framing assessment under section 153A in the absence of incriminating material discovered during search.
Completed assessment could not be interfered with while framing assessment under section 153A in the absence of incriminating material discovered…
Inter-trust donation by one charitable trust to another for utilization by the donee trust towards charitable objects is proper application of income for charitable purpose
Inter-trust donation by one charitable trust to another for utilization by the donee trust towards charitable objects is proper application…
Merely because a debt has not been repaid for over 3 years would not automatically imply cessation of liability. Limitation period may not be relevant for taxation under the IncomeTax Act.
Merely because a debt has not been repaid for over 3 years would not automatically imply cessation of liability. Limitation…
Violation of section 11 & 13 of the Act would result in forfeiture of exemption?
Violation of section 11 & 13 of the Act would result in forfeiture of exemption? An interesting case before ITAT…
Diwali Bonus by Modi Government : Biggest corporate tax rate cut
Diwali Bonus by Modi Government : Biggest corporate tax rate cut The biggest tax bonanza by the Modi Government by way of…
Simple Chart of Reduction in Corporate Tax Rates announced on 20th September:
Simple Chart of Reduction in Corporate Tax Rates announced on 20th September: [www.TheTaxTalk.com] Sr. No. Applicable to New Tax Rate…
Demonetization special: Validity of submission that high denomination notes were savings from his personal allowance,
Demonetization special: Validity of submission that high denomination notes were savings from his personal allowance SRI SRI NILKANTHA NARAYAN SINGH…
Demonetization special: Addition upheld as the conduct of the assessee was wholly non-cooperative before the AO
Demonetization special: Addition upheld as the conduct of the assessee was wholly non-cooperative before the AO Karan Bhalla, New Delhi…
Where having regard to human probabilities and normal course of human conduct, explanation furnished by assessee as regards cash deposits in his bank account was not wholesome and verifiable, AO was justified in making addition under section 68
Where having regard to human probabilities and normal course of human conduct, explanation furnished by assessee as regards cash deposits…
