Assessment done u/s 143(3) as against section 144 vs. Observation by ITAT Delhi
Assessment done u/s 143(3) as against section 144 vs. Observation by ITAT Delhi Recently by order dated 16.10.2024 passed…
Income Tax
Delay in filing of 8 years in filing of Appeal due to wrong advice of counsel condoned by ITAT
Delay in filing of 8 years in filing of Appeal due to wrong advice of counsel condoned by ITAT …
Brought forward depreciation loss can be set off only against business income and cannot be set off against income from any other source
Brought forward depreciation loss can be set off only against business income and cannot be set off against income from…
Can a TPO question the commercial expediency of a business transaction?
Can a TPO question the commercial expediency of a business transaction? 1. The Transfer Pricing Officer’s (TPO) role is…
Banks Can Claim Tax Deductions For Broken Period Interest On HTM Securities If Held As Trading Assets: Supreme Court
Banks Can Claim Tax Deductions For Broken Period Interest On HTM Securities If Held As Trading Assets: Supreme Court …
Service of the notice u/s 143(2) on the Assessee is a sine qua non or condition precedent for the validity of the Assessment Proceeding
Service of the notice u/s 143(2) on the Assessee is a sine qua non or condition precedent for the validity…
VSVS related CBDT circular: A Short Overview
VSVS related CBDT circular: A Short Overview Introduction: 1. The Direct Tax Vivad Se Vishwas Scheme, 2024 has been enacted…
Shares Income: Should it be classified as Business Income or Capital Gains?
Shares Income: Should it be classified as Business Income or Capital Gains? [Query 1] I remember reading in one…
CBDT issues Revised Guidelines for compounding offences under the Income- tax Act, 1961
CBDT issues Revised Guidelines for compounding offences under the Income- tax Act, 1961 The copy of the order is…
Guidelines for Compounding of offences under the Income-Tax Act, 1961
Guidelines for Compounding of offences under the Income-Tax Act, 1961 The copy of the order is as under: …
Changes in stamp duty rates in Maharashtra effective from 14.10.2024
Changes in stamp duty rates in Maharashtra effective from 14.10.2024 The copy of the order is as under: 1145849819MaharashtraStampActAmendment-14.10.2024…
Revenue shared with franchise doesn’t attract TDS liability U/S 194I if no actual services were rendered: Delhi ITAT
Revenue shared with franchise doesn’t attract TDS liability U/S 194I if no actual services were rendered: Delhi ITAT Facts:…
An assessee, who has failed to claim ‘Long Term Capital Loss’ in ITR, is allowed to seek revision under Section 264: Gujarat HC
An assessee, who has failed to claim ‘Long Term Capital Loss’ in ITR, is allowed to seek revision under Section…
Guidance Note 1/2024 on provisions of the Direct Tax Vivad se Vishwas Seheme, 2024
Guidance Note 1/2024 on provisions of the Direct Tax Vivad se Vishwas Seheme, 2024 The copy of the order…
Partition of a HUF & Income Tax Provision
Partition of a HUF & Income Tax Provision 1. Section 171 of the Income Tax Act provides the legal framework…
Revised return can be filed even though it is time barred if it is pursuant to a scheme of amalgamation
Revised return can be filed even though it is time barred if it is pursuant to a scheme of amalgamation…
LTCG Tax @ 12.50%: 54EC Bonds still a smart Investment?
LTCG Tax @ 12.50%: 54EC Bonds still a smart Investment? Taxpayers can save Long Term Capital Gain (LTCG) tax…
Cash deposited during demonetization as unexplained credit: Rejection of books of accounts u/s 145 & Addition u/s 68/69A with 115BBE –
Cash deposited during demonetization as unexplained credit: Rejection of books of accounts u/s 145 & Addition u/s 68/69A with 115BBE…
