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…
Income Tax
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…
LEGAL OWNERSHIP ALONE DOES NOT DETERMINE TAXABILITY ON CAPITAL GAINS IF THE ASSESSEE LACKS BENEFICIAL OWNERSHIP.
LEGAL OWNERSHIP ALONE DOES NOT DETERMINE TAXABILITY ON CAPITAL GAINS IF THE ASSESSEE LACKS BENEFICIAL OWNERSHIP. Income Tax Appellate…
Revised Limit for Micro, Small, and Medium Enterprises (MSMEs), effective from April 01, 2025.
Revised Limit for Micro, Small, and Medium Enterprises (MSMEs), effective from April 01, 2025. The Government of India has…
Step-Sibling is a ‘Relatives’ Under Section 56(2)(vii) – Tax Exemption available: ITAT
Step-Sibling is a ‘Relatives’ Under Section 56(2)(vii) – Tax Exemption available: ITAT The primary issue in this case revolved…
An overview of recent cases by Bombay High Court on Bogus Purchase vs. Addition under section 69C
An overview of recent cases by Bombay High Court on Bogus Purchase vs. Addition under section 69C Recently Hon’ble…
No reopening permissible if there is no failure on the part of the assessee disclose the full and true facts during assessment proceeding: SC in Mangalam Publication vs. CIT
No reopening permissible if there is no failure on the part of the assessee disclose the full and true facts…
