Can India Tax Capital Gains from Foreign Share Buybacks? A Non-Resident’s Dilemma
Can India Tax Capital Gains from Foreign Share Buybacks? A Non-Resident’s Dilemma Question: Whether capital gains arising to a non-resident…
Income Tax
ITAT Delhi Accepts Cash Deposits as Salary Savings, Religious Practice and Lack of Other Income cited
ITAT Delhi Accepts Cash Deposits as Salary Savings, Religious Practice and Lack of Other Income cited The assessee, a…
ITAT Visakhapatnam Upholds Telescoping: Rs. 1.25 Cr Marriage Expense Not Taxable in Individual Hands as Income Offered by Group Company
ITAT Visakhapatnam Upholds Telescoping: Rs. 1.25 Cr Marriage Expense Not Taxable in Individual Hands as Income Offered by Group Company…
A mere difference in opinion is not sufficient to invoke Section 263: ITAT Ahmedabad
A mere difference in opinion is not sufficient to invoke Section 263: ITAT Ahmedabad Recently, ITAT Ahmedabad in ITA…
ROC Bangalore imposed penalty of Rs. 2.25 Lakh for failure to make ‘‘Appointment of Internal Auditor’’ u/s 138(1) & (2) r/w Rule 13(1) Of the Companies (Accounts) Rules, 2014
ROC Bangalore imposed penalty of Rs. 2.25 Lakh for failure to make ‘‘Appointment of Internal Auditor’’ u/s 138(1) & (2)…
Cash deposits during Demonetization and explanation of accumulated saving belonging to the family members – Issue before Delhi ITAT
Cash deposits during Demonetization and explanation of accumulated saving belonging to the family members – Issue before Delhi ITAT In…
Section 143(2): When the Taxman Knocks, Should You Panic or Prepare?
Section 143(2): When the Taxman Knocks, Should You Panic or Prepare? It’s that time of the year again – and…
Does Sec 56(2)(x) apply to purchase of rural agricultural land?
Does Sec 56(2)(x) apply to purchase of rural agricultural land? Practical case: 1. Suppose an assessee has purchased a property…
Guidelines for recording reasons for reopening assessments are only a guidance for the AO: Calcutta HC
Guidelines for recording reasons for reopening assessments are only a guidance for the AO: Calcutta HC Principal CIT-9 Kolkata…
ITAT Mumbai dropped non-compliance of penalty of Actress Shilpa Shetty as compliance with notices was done prior to assessment order
ITAT Mumbai dropped non-compliance of penalty of Actress Shilpa Shetty as compliance with notices was done prior to assessment order…
Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the Income-tax Act,1961 passed by Competent Authority
Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the…
Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by Common Adjudicating Authority (CAA) for show cause notices issued by DGGI
Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by Common Adjudicating Authority (CAA) for show cause…
25 Landmark Cases on 80P Deduction for Bank-Deposit Interest
25 Landmark Cases on 80P Deduction for Bank-Deposit Interest Section 80P(2) empowers co-operative credit societies to claim a 100% deduction…
Based upon an inconclusive or tentative opinion of an AO, no breach of Article 265 can be alleged or established: Bombay HC
Based upon an inconclusive or tentative opinion of an AO, no breach of Article 265 can be alleged or established:…
Oman to be first Gulf country to impose personal income tax
Oman to be first Gulf country to impose personal income tax 1. Oman will become the first country in the…
Major Changes in ITR-1 for FY 2024–25 (AY 2025–26) – Complete Guide
The Income Tax Department has rolled out a set of significant upgrades to the ITR-1 (Sahaj) form applicable to income…
Section 80P Deduction for Credit Co-operative Societies: Complete Legal Update
Section 80P Deduction for Credit Co-operative Societies: Complete Legal Update Section 80P(2) empowers co-operative credit societies to claim a 100%…
Reassessment, Unexplained Deposits & Section 148A: ITAT Ahmedabad Rules on Limitation & Justification
Reassessment, Unexplained Deposits & Section 148A: ITAT Ahmedabad Rules on Limitation & Justification In a recent and significant ruling, the…
