Income Tax

Whether the power U/s 119(2)(b) allows commissioners to admit a belated Form 9A & condone the delay if assessee provides valid reasons

1 year ago

Whether the power U/s 119(2)(b) allows commissioners to admit a belated Form 9A & condone the delay if assessee provides…

Income Tax

Last date for furnishing Belated/Revised return for AY 2024-25 in the case of Resident individuals extended by 15 days – Thanks to Bombay HC

1 year ago

Last date for furnishing Belated/Revised return for AY 2024-25 in the case of Resident individuals extended by 15 days –…

Income Tax

Extension of the validity of FCRA registration certificates

1 year ago

Extension of the validity of FCRA registration certificates The copy of the order is as under: fc_notice_27122024

Income Tax

Banning of Unregulated Lending Activities Bill: Implications for Businesses and Individual Lenders

1 year ago

Banning of Unregulated Lending Activities Bill: Implications for Businesses and Individual Lenders To curb unregulated lending activities & to…

Income Tax

Mere review of the same documents that had been submitted during the original assessment does not warrant reopening of assessment: Bombay HC

1 year ago

Mere review of the same documents that had been submitted during the original assessment does not warrant reopening of assessment:…

Income Tax

Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits?

1 year ago

Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits? Situation: 1. Consider a…

Income Tax

Interest earned on Borrowed Funds kept for acquiring coal mine is not revenue receipt even if coal mine is aborted, borrowings are repaid: Delhi HC

1 year ago

Interest earned on Borrowed Funds kept for acquiring coal mine is not revenue receipt even if coal mine is aborted,…

Income Tax

Taxation in the wrong Assessment Year: ITAT deleted addition

1 year ago

Taxation in the wrong Assessment Year: ITAT deleted addition Let us have a Short Overview of the case which…

Income Tax

ITAT agrees on the concept of Tax Loss Harvesting adopted by the Taxpayers.

1 year ago

ITAT agrees on the concept of Tax Loss Harvesting adopted by the Taxpayers. Recently, ITAT has held that the…

Income Tax

Foundation of the assessment is erroneous and void ab initio as notice under section 143(2) issued by another AO to whom jurisdiction was transferred much later: ITAT

1 year ago

Foundation of the assessment is erroneous and void ab initio as notice under section 143(2) issued by another AO to…

Income Tax

“Human probabilities” and the concept of penny stock may not justify additioni without assessee’s involvement

1 year ago

“Human probabilities” and the concept of penny stock may not justify additioni without assessee’s involvement The ITAT Delhi in…

Income Tax other topic

New law to curb unregulated and fraudulent private money lending practices

1 year ago

New law to curb unregulated and fraudulent private money lending practices A draft of the ‘Banning of Unregulated Lending Activities’…

Income Tax

Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits?

1 year ago

Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits? Situation: 1. Consider a…

Income Tax

Interest on surplus fund during pre-commencement of the business – Whether Business Income or Other source Income?

1 year ago

Interest on surplus fund during pre-commencement of the business – Whether Business Income or Other source Income? The question of…

Income Tax

Conversion of Sole Proprietorship to a Company is not a transfer & Exempt from capital gains tax

1 year ago

Conversion of Sole Proprietorship to a Company is not a transfer & Exempt from capital gains tax Conversion of Sole…

Income Tax

Change in the Tax Law Related to Partnership Firm & the Controversial issues

1 year ago

Change in the Tax Law Related to Partnership Firm & the Controversial issues Amendment in remuneration limit: 1. The…

Income Tax

Taxpayers Facing Assessments Due to ITC Claimed Under the Wrong Head- Relief by Kerala HC

1 year ago

Taxpayers Facing Assessments Due to ITC Claimed Under the Wrong Head- Relief by Kerala HC Taxpayers undergoing assessments for ITC…

Income Tax

Depending on your country of residence, you could save a good chunk capital gains tax.

1 year ago

Depending on your country of residence, you could save a good chunk capital gains tax. Here’s how you can…

Income Tax

Whether the power U/s 119(2)(b) allows commissioners to admit a belated Form 9A & condone the delay if assessee provides valid reasons

Last date for furnishing Belated/Revised return for AY 2024-25 in the case of Resident individuals extended by 15 days – Thanks to Bombay HC

Extension of the validity of FCRA registration certificates

Banning of Unregulated Lending Activities Bill: Implications for Businesses and Individual Lenders

Mere review of the same documents that had been submitted during the original assessment does not warrant reopening of assessment: Bombay HC

Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits?

Interest earned on Borrowed Funds kept for acquiring coal mine is not revenue receipt even if coal mine is aborted, borrowings are repaid: Delhi HC

Taxation in the wrong Assessment Year: ITAT deleted addition

ITAT agrees on the concept of Tax Loss Harvesting adopted by the Taxpayers.

Foundation of the assessment is erroneous and void ab initio as notice under section 143(2) issued by another AO to whom jurisdiction was transferred much later: ITAT

“Human probabilities” and the concept of penny stock may not justify additioni without assessee’s involvement

New law to curb unregulated and fraudulent private money lending practices

Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits?

Interest on surplus fund during pre-commencement of the business – Whether Business Income or Other source Income?

Conversion of Sole Proprietorship to a Company is not a transfer & Exempt from capital gains tax

Change in the Tax Law Related to Partnership Firm & the Controversial issues

Taxpayers Facing Assessments Due to ITC Claimed Under the Wrong Head- Relief by Kerala HC

Depending on your country of residence, you could save a good chunk capital gains tax.

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