IT JudgementNo deduction of finance charges if assessee was engaged in making investments just to earn dividend income: ITAT8 Sep 20180IT : Where assessee company made advances to its subsidiary companies out of borrowed funds who further gave said advances…
Income TaxWhy CA’s, Professionals & the Country is taken for Granted?7 Sep 20180Respected FM Sir, Why CA’s, Professionals & the Country is taken for Granted? Today, this is the 7th time in a…
Income TaxHighlights of changes in Form 3CD for AY 2018-197 Sep 20180“Tax Audit Season” is on head and this tax audit season CBDT has made few important changes in tax audit…
Income TaxNRI Sportsmen not required to file income tax return: Subject to condition!7 Sep 20180NRI Sportsmen not required to file income tax return: Subject to condition! Section115BBA of Income Tax Act 1961 As per…
IT JudgementPaying Ransom to Kidnappers for Directors being Kidnapped on Business Tour Deductible?7 Sep 20180Paying Ransom to Kidnappers for Directors being Kidnapped on Business Tour Deductible? Issue: Any amount paid or any expenditure incurred…
Income TaxResidential Status7 Sep 20180Residential Status Residential status is the status that an assessee has been given as per the Income Tax Department so…
IT JudgementPCIT vs. International Biotech Park Ltd (Bombay High Court)7 Sep 20180PCIT vs. International Biotech Park Ltd (Bombay High Court) The Revenue has been selective in its approach. It picks either…
Income TaxAddition of Long Term Capital Gains from shares of Essar India Ltd deleted by Kolkata ITAT7 Sep 20180Addition of Long Term Capital Gains from shares of Essar India Ltd deleted by Kolkata ITAT In the case of …
IT JudgementGranting or refusing registration shall be passed before expiry of 6 months from the end of month in which the application received under section 12A: says Bangalore ITAT.7 Sep 20180Granting or refusing registration shall be passed before expiry of 6 months from the end of month in which the…
Income TaxInvestment to be made to claim deduction under section 80C6 Sep 20180Investment to be made to claim deduction under section 80C Maximum deduction allowed under section 80C of Income Tax 1961…
Income TaxTaxability in the hands of recipient for receiving any sum of money or property without or inadequate consideration.6 Sep 20180Taxability in the hands of recipient for receiving any sum of money or property without or inadequate consideration. Any sum…
Income TaxConfiscation of Stock of Illegal Business: Tax Implication6 Sep 20180Confiscation of Stock of Illegal Business: Tax Implication Section 37 of the Income tax Act, 1961 deals with the general…
Income TaxDeduction from Salary: Section 16 of Income Tax Act 19616 Sep 20180Section 16 of Income Tax Act 1961 talks about deduction from salary to employees. Earlier there was transport allowance deduction…
Income TaxDepreciation on lease asset available to lessor no matter what!!6 Sep 20180Issue: Whether depreciation available to lessor can be denied on the ground that asset leased is registered in the name…
Income TaxNo TDS under section 194IA if value excluding GST is less Rs 50 Lakhs !6 Sep 20180No TDS under section 194IA if value excluding GST is less Rs 50 Lakhs ! Section194IA of Income Tax Act…
IT JudgementAdvance Ruling-Jurisdiction-Question involving examination of “place of supply”6 Sep 20180Advance Ruling-Jurisdiction-Question involving examination of “place of supply” Esprit India (P) Ltd. Decision: Matter remanded Advance Ruling-Jurisdiction-Question involving examination of “place…
Income TaxBOND WASHING TRANSACTIONS UNDER INCOME TAX ACT, 1961: VALID?6 Sep 20180BOND WASHING TRANSACTIONS UNDER INCOME TAX ACT, 1961: VALID? Bond washing transactions are the transactions in Securities which leads to…
Income TaxWhether Capital Gain will arise on sale of self generated goodwill of profession?6 Sep 20180Issue Whether Capital Gain will arise on sale of self generated goodwill of profession? Provision Cost of acquisition: Section 55…