Non-Compliance with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITATA
Non-Compliance with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITATA In tax jurisprudence, procedure is not a mere…
Income Tax
Relief on GST Input Tax Credit for Real Estate-Linked Services – Supreme Court Upholds Safari Retreats Ruling
Relief on GST Input Tax Credit for Real Estate-Linked Services – Supreme Court Upholds Safari Retreats Ruling In a…
Once an LLP opts for audit under Rule 24(8), the due date of filing the income tax return is 30th September: ITAT Agra
Once an LLP opts for audit under Rule 24(8), the due date of filing the income tax return is 30th September:…
Compliance Calendar for June’2025
Compliance Calendar for June’2025 INCOME TAX ▪ 07th June 2025- Due date for deposit of Tax deducted and collected…
The benefit of lower rate of income tax of 15% under Section 115BAB allowed to Company by Kolkata ITAT
The benefit of lower rate of income tax of 15% under Section 115BAB allowed to Company by Kolkata ITAT …
Jurisdictional Assessing Officer Vs. Faceless Assessing Officer: Telangana High Court Quashes Reassessment Notices
Jurisdictional Assessing Officer Vs. Faceless Assessing Officer: Telangana High Court Quashes Reassessment Notices The petitioner challenged reassessment proceedings under…
Legal fiction created in Section 50 is confined to the computation of capital gains and does not alter the nature of the asset or affect eligibility for exemptions under other sections
Legal fiction created in Section 50 is confined to the computation of capital gains and does not alter the nature…
Non-Complince with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITAT
Non-Complince with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITAT In tax jurisprudence, procedure is not a…
ITAT Jaipur Estimates Profit at 1.52% on Turnover of Rs. 7.96 Crores Amid Audit Lapses and Cash Irregularities
ITAT Jaipur Estimates Profit at 1.52% on Turnover of Rs. 7.96 Crores Amid Audit Lapses and Cash Irregularities The…
Entire purchases cannot be disallowed; only profit embedded in unverifiable purchases can be taxed: ITAT Delhi
Entire purchases cannot be disallowed; only profit embedded in unverifiable purchases can be taxed: ITAT Delhi ITAT Delhi decision in…
Multiple Floors in a Single Building Constitute One Residential House Under Section 54F
Multiple Floors in a Single Building Constitute One Residential House Under Section 54F In a landmark judgment, the Delhi…
Expenditure towards salaries and wages could not be represented as ‘asset’ as per section 149(1)(b)- Reassessment proceedings beyond 3 years quashed by Delhi HC
Expenditure towards salaries and wages could not be represented as ‘asset’ as per section 149(1)(b)- Reassessment proceedings beyond 3 years…
Review Petition filed by the Revenue against the judgment in Safari Retreats dismissed by SC
Review Petition filed by the Revenue against the judgment in Safari Retreats dismissed by SC Hon’ble Supreme Court, on…
ITAT allowed deduction towards interest paid against FDR Interest as it was business-linked and served as collateral for loan facilities
ITAT allowed deduction towards interest paid against FDR Interest as it was business-linked and served as collateral for loan facilities…
Slump Sale: Non-transfer of receivables shown as consideration due did not violate slump sale conditions
Slump Sale: Non-transfer of receivables shown as consideration due did not violate slump sale conditions In the case of slump…
No Justification for Revisional Action Under Section 263 Based on Mere Opinion Divergence.
No Justification for Revisional Action Under Section 263 Based on Mere Opinion Divergence. The assessee, Ganesh Srinivasan, a Senior…
Notice was issued without obtaining prior approval from the appropriate authority as mandated under Section 151(ii) of the Act.
Notice was issued without obtaining prior approval from the appropriate authority as mandated under Section 151(ii) of the Act. …
No Addition u/s 68 can made, in respect of any investment, loan, or advance not credited during the year under consideration.
No Addition u/s 68 can made, in respect of any investment, loan, or advance not credited during the year under…
