Income TaxTax Impact on Share Buybacks: Old Vs New Law12 months agoTax Impact on Share Buybacks: Old Vs New Law The Finance Act (No. 2) of 2024 introduces sweeping changes that…
Income TaxNo penalty u/s 270A as loss declared under ‘Income from other sources’ couldn’t be set off or carried forward: ITAT12 months agoNo penalty u/s 270A as loss declared under ‘Income from other sources’ couldn’t be set off or carried forward: ITAT…
Income TaxAn overview of Rules for set off and carry forward of losses12 months agoAn overview of Rules for set off and carry forward of losses 1. Before making inter-head adjustment, the taxpayer…
Income TaxRectification under section 154 of the Act is not obligatory on the part of the Assessing Officer if clear data is not available: Nagpur ITAT 12 months agoRectification under section 154 of the Act is not obligatory on the part of the Assessing Officer if clear data…
Income TaxEx-parte order passed by serving notice on email – ITAT remanded back the matter to AO12 months agoEx-parte order passed by serving notice on email – ITAT remanded back the matter to AO The Income Tax…
Income TaxReopening of assessments for assessment year as back as AY 2014-15, Ay 2015-16, 2016-17 and 2017-18 is not permissible: Delhi HC12 months agoReopening of assessments for assessment year as back as AY 2014-15, Ay 2015-16, 2016-17 and 2017-18 is not permissible: Delhi…
Income TaxOverview Penalties under Income Tax Act-196112 months agoOverview Penalties under Income Tax Act-1961 The copy of the order is attached herewith: Penalties under Income Tax Act 1961…
Income TaxInterest income of Credit cooperative societies from its investment with other bank eligible for deduction U/s 80P: Nagpur ITAT12 months agoInterest income of Credit cooperative societies from its investment with other bank eligible for deduction U/s 80P: Nagpur ITAT …
Income TaxDoes the old dictum of ‘reasons to believe’ hold true in light of 2021 amendments in process of reopening of assessments?12 months agoDoes the old dictum of ‘reasons to believe’ hold true in light of 2021 amendments in process of reopening of…
Income TaxWould bonafide mistake in non disclosure of foreign assets in return result into penalty under Black Money Law?12 months agoWould bonafide mistake in non disclosure of foreign assets in return result into penalty under Black Money Law? 1.…
Income TaxBombay HC Censures AO for Unconscionable Conduct, Disregarding Binding Judgement, Slaps Rs25,000 Fine12 months agoBombay HC Censures AO for Unconscionable Conduct, Disregarding Binding Judgement, Slaps Rs25,000 Fine Samp Furniture Pvt. Ltd. Vs ITO…
Income TaxDecoding Capital Gains Tax: Exemption Strategies under the 12.50% and 20% Rates12 months agoDecoding Capital Gains Tax: Exemption Strategies under the 12.50% and 20% Rates Every new tax law & amendments comes…
Income TaxBonafide purchasing dealers should not be denied ITC for non compliance of selling dealers12 months agoBonafide purchasing dealers should not be denied ITC for non compliance of selling dealers Here is an interest case…
Income TaxWhether separate written retraction requirement is fastened upon assessee either u/s 133A or any other provisions of the Act?12 months agoWhether separate written retraction requirement is fastened upon assessee either u/s 133A or any other provisions of the Act? …
Income TaxCBDT issues clarification in respect of Income-tax clearance certificate (ITCC).12 months agoCBDT issues clarification in respect of Income-tax clearance certificate (ITCC). It is being erroneously reported that all Indian citizens…
Income TaxCredit co-operative societies are eligible for deduction U/s 80P(2)(a)(i) in respect of interest income from its investment: Nagpur ITAT12 months agoCredit co-operative societies are eligible for deduction U/s 80P(2)(a)(i) in respect of interest income from its investment: Nagpur ITAT Disallowance…
Income TaxActivity already commenced prior to Provisional Registration cannot be the ground for rejection of Section 80G Registration: Nagpur ITAT12 months agoActivity already commenced prior to Provisional Registration cannot be the ground for rejection of Section 80G Registration: Nagpur ITAT …
Income TaxITAT Mumbai deleted Penny Stock Addition12 months agoITAT Mumbai deleted Penny Stock Addition In a recent case, Mumbai ITAT deleted the addition on account of penny…