Redeveloped Flat received from builder is not a “Gift” under section 56(2)(x): Mumbai ITAT
Redeveloped Flat received from builder is not a “Gift” under section 56(2)(x): Mumbai ITAT During the redevelopment process, normally…
Income Tax
ITC cannot be denied even if the supplier’s registration is cancelled from retrospective date.
ITC cannot be denied even if the supplier’s registration is cancelled from retrospective date. The Hon’ble High court in…
Section 153D: Approval must be self-contained piece of evidence demonstrating that due process of law is followed in approving
Section 153D: Approval must be self-contained piece of evidence demonstrating that due process of law is followed in approving …
Know about the changes in the New Tax Audit Report in Form No. 3CD
Know about the changes in the New Tax Audit Report in Form No. 3CD 1. Introduction of Clause 36B…
Updated Returns: A Second Chance That Costs Extra (But Saves You More)
Updated Returns: A Second Chance That Costs Extra (But Saves You More) Missed declaring some income? Skipped filing a…
Retraction of statement recorded during Income Tax Search Proceedings: An Overview of Legal Provision
Retraction of statement recorded during Income Tax Search Proceedings: An Overview of Legal Provision 1. Admissibility of statements during…
Permanent Registration of the Trust – Quoting a wrong provision cannot be held to be fatal & well-deserved beneficial provision need to be extended: ITAT Nagpur
Permanent Registration of the Trust – Quoting a wrong provision cannot be held to be fatal & well-deserved beneficial provision…
Compliance Calendar for April’2025
Compliance Calendar for April’2025 INCOME TAX – 07th April 2025- Due date for deposit of Tax collected for the…
ITAT allowed capital gain exemption u/s 54F – Where father died intestate, inherited property devolved equally on mother and son
ITAT allowed capital gain exemption u/s 54F – Where father died intestate, inherited property devolved equally on mother and son…
Deductors / collectors may get interest waiver if TDS/TCS amount debited from the bank account but not credited to the Government Treasury due to technical glitches
Deductors / collectors may get interest waiver if TDS/TCS amount debited from the bank account but not credited to the…
Section 254(1) & Rule 11 of the ITAT Rules: ITAT has power to admit any ground or issue not taken by either of the parties earlier in Appeal
Section 254(1) & Rule 11 of the ITAT Rules: ITAT has power to admit any ground or issue not taken…
Separate reporting of settlement related expenses in Form 3CD:
Separate reporting of settlement related expenses in Form 3CD: Introduction: 1. Clause 21 of the amended Tax Audit Report…
ITAT quashed order under section 263 as CIT could not pinpoint any seized material relating to the issues on which revisionary directions is exercised
ITAT quashed order under section 263 as CIT could not pinpoint any seized material relating to the issues on which revisionary…
Tax Audit Form 3-CD amended: Know key changes introduced in Tax Audit Report
Tax Audit Form 3-CD amended: Know key changes introduced in Tax Audit Report There are lot many changes which…
ITAT allowed Misc. Application and quashed ex-parte order as taxpayer was prevented by sufficient cause in non-appearance: Delhi ITAT
ITAT allowed Misc. Application and quashed ex-parte order as taxpayer was prevented by sufficient cause in non-appearance: Delhi ITAT …
Step-siblings should be considered as relatives under the Income Tax Act -1961: ITAT Mumbai
Step-siblings should be considered as relatives under the Income Tax Act -1961: ITAT Mumbai Mumbai Tribunal in the case…
Where both Sec 43B and Sec 40A(7) contain non-obstante clause, Sec 40A(7) would prevail: Madras HC
Where both Sec 43B and Sec 40A(7) contain non-obstante clause, Sec 40A(7) would prevail: Madras HC M/s Sanmar Speciality Chemicals…
FINALLY, NEW FINANCIAL STATEMENT FORMATS EFFECTIVE TODAY
FINALLY, NEW FINANCIAL STATEMENT FORMATS EFFECTIVE TODAY Starting April 1, 2025, the ICAI Guidance Note on Financial Statements for Non-Corporate…
