Scheme of Section 144B only requires service of a draft assessment order along with the SCN in case of eligible Assessee
Scheme of Section 144B only requires service of a draft assessment order along with the SCN in case of eligible…
Income Tax
Mutual Fund Gains of Singapore Resident Not Taxable in India under DTAA: ITAT Mumbai
Mutual Fund Gains of Singapore Resident Not Taxable in India under DTAA: ITAT Mumbai ITAT Mumbai recently has held that…
Transfer of Depreciable Assets: Tax rate prescribed U/s 112 is applicable even if it is deemed to be taxed as short-term capital gains U/s 50.
Transfer of Depreciable Assets: Tax rate prescribed U/s 112 is applicable even if it is deemed to be taxed as…
ITAT Delhi Sets Aside Reassessment over Missing Section 143(2) Notice
ITAT Delhi Sets Aside Reassessment over Missing Section 143(2) Notice Recently, ITAT Delhi Sets Aside Reassessment Over Missing Section…
Remuneration and interest of a partner from partnership firm not covered U/s 44AD: Madras HC
Remuneration and interest of a partner from partnership firm not covered U/s 44AD: Madras HC Remuneration and interest received…
An incorrect assumption of facts makes the entire reopening process legally untenable: ITAT Deharaudun
An incorrect assumption of facts makes the entire reopening process legally untenable: ITAT Deharaudun ITAT Dehradun in the case…
ITAT directed CIT (E) for giving Permanent Registration as procedural non-compliance with state law doesn’t automatically imply non-genuineness of charitable activity.
ITAT directed CIT (E) for giving Permanent Registration as procedural non-compliance with state law doesn’t automatically imply non-genuineness of charitable…
Power under section 245(2) to withhold refunds: An Overview
Power under section 245(2) to withhold refunds: An Overview Introduction: Introduced by the Finance Act, 2023, this sub section…
Form 10AB with condonation option now available on e-filing portal
Form 10AB with condonation option now available on e-filing portal 1. Introduction: The Income Tax Department has enabled the filing…
GST not includible in Gross Receipts for Income Computation U/S 44BB: ITAT Mumbai
GST not includible in Gross Receipts for Income Computation U/S 44BB: ITAT Mumbai Oceaneering International GMBH Vs DCIT (International…
Sales recorded in books of account, even if alleged to be in genuine, do not result in income escaping assessment: Delhi HC
Sales recorded in books of account, even if alleged to be in genuine, do not result in income escaping assessment:…
Amount received by illegal occupant is tax free?
Amount received by illegal occupant is tax free? Recently, ITAT Mumbai in the case of Mohammed Fakhre Alam Shaikh…
No Addition u/s 153A without incriminating material found during search – Statements of third parties not sufficient: ITAT Delhi
No Addition u/s 153A without incriminating material found during search – Statements of third parties not sufficient: ITAT Delhi …
Tax Payment Postponed, ₹30 Lakh Earned – All Thanks to a Smartly Timed Sale
Tax Payment Postponed, ₹30 Lakh Earned – All Thanks to a Smartly Timed Sale Query 1: When Your Agricultural Land Is…
Reason to believe for Reassessment: AO must exercise discretion independently and not under the dictates of other authorities.
Reason to believe for Reassessment: AO must exercise discretion independently and not under the dictates of other authorities. Bombay High…
Re-assessment is valid if the AO independently verifies information and forms a reasoned belief of income escaping assessment.
Re-assessment is valid if the AO independently verifies information and forms a reasoned belief of income escaping assessment. In…
Assessment order passed on a non-existent entity due to amalgamation is invalid considering the applicability of Section 170(2) of the Income Tax Act
Assessment order passed on a non-existent entity due to amalgamation is invalid considering the applicability of Section 170(2) of the…
Non filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh
Non filing of MSME-1 by Companies may attract penalty up to Rs. 3 Lakh For all companies in India…
