Without any evidence to doubt the genuineness, the resultant capital loss cannot be disallowed: ITAT Mumbai
Without any evidence to doubt the genuineness, the resultant capital loss cannot be disallowed: ITAT Mumbai If the assessee…
Income Tax
Actual turnover of Kaccha Aarahtias (commission agents) is the commission charged and not the total sale proceeds on behalf of their principals: TDS credit allowed by ITAT Visakhapatnam
Actual turnover of Kaccha Aarahtias (commission agents) is the commission charged and not the total sale proceeds on behalf of…
Audit Memo do not fall within the ambit of the term “information” as provided in Explanation 1 to Section 148 of the Act w.r.t Finance Act 2021
Audit Memo do not fall within the ambit of the term “information” as provided in Explanation 1 to Section 148…
Penalty cannot be imposed on disallowance of 80P claim which is highly debatable
Penalty cannot be imposed on disallowance of 80P claim which is highly debatable The copy of the Appellate is…
Newly notified Section 16(5) opens the door for revisiting denied ITC claims for specific periods – Kerala HC Ruling
Newly notified Section 16(5) opens the door for revisiting denied ITC claims for specific periods – Kerala HC Ruling …
Since Appellant acted in a bona fide manner and made necessary adjustments by the end of the financial year, there is no liability of interest under section 201(1A): ITAT Mumbai
Since Appellant acted in a bona fide manner and made necessary adjustments by the end of the financial year, there…
Penny stock addition deleted by ITAT Mumbai as no role has been attributed and/or established qua rigging of the shares
Penny stock addition deleted by ITAT Mumbai as no role has been attributed and/or established qua rigging of the shares…
Interest reimbursed to the sister concerns is not an income & there is no statutory obligation to deduct TDS under Section 194A: ITAT Mumbai
Interest reimbursed to the sister concerns is not an income & there is no statutory obligation to deduct TDS under…
Liabilities disclosed in the balance sheet by the assessee, if acknowledged and supported with evidence, cannot be treated as remission or cessation of liability under Section 41(1) of the Income-tax Act, 1961: ITAT Delhi
Liabilities disclosed in the balance sheet by the assessee, if acknowledged and supported with evidence, cannot be treated as remission…
What PAN 2.0 Means for you: Top 10 Takeaways for Taxpayers
What PAN 2.0 Means for you: Top 10 Takeaways for Taxpayers The Income Tax Department has launched PAN 2.0…
Taxability of ESOPs:
Taxability of ESOPs: 1. Meaning of ESOPs: As per Section 2(37) of Companies Act, 2013 “employees stock option” means,…
Mere Disagreement Doesn’t Justify invocation of Section 263 Revision Power: Madras HC
Mere Disagreement Doesn’t Justify invocation of Section 263 Revision Power: Madras HC EIH Associated Hotels Limited Vs CIT (Madras…
Details to be filled while filing ITR with foreign assets:
Details to be filled while filing ITR with foreign assets: 1. Introduction: If you’re having foreign assets, then you should…
Taxation on Sale of Agricultural Land in India: A Short Overview
Taxation on Sale of Agricultural Land in India: A Short Overview No Income Tax is Payable on sale of…
Addition towards cash deposits during demonetization deleted by ITAT as it was adequately explained based on the facts and nature of the business
Addition towards cash deposits during demonetization deleted by ITAT as it was adequately explained based on the facts and nature…
Stamp duty valuation under Section 50C or 43CA cannot be substituted & only the actual sale consideration should be reduced from WDV for depreciation purposes
Stamp duty valuation under Section 50C or 43CA cannot be substituted & only the actual sale consideration should be reduced…
PAN 2.0 Project Approved – Project outlay of 1435 crores
PAN 2.0 Project Approved – Project outlay of 1435 crores The PAN 2.0 Project enables technology driven transformation of…
The failure to issue a show cause notice constituted a significant procedural defect – Assessment Order quashed by Bombay HC
The failure to issue a show cause notice constituted a significant procedural defect – Assessment Order quashed by Bombay HC…
