Delay in filing Form 67 is a procedural lapse that does not affect the substantive right to claim FTC: ITAT
Delay in filing Form 67 is a procedural lapse that does not affect the substantive right to claim FTC: ITAT…
Income Tax
𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗢𝗿𝗱𝗲𝗿 𝗼𝗻 𝗱𝗶𝘀𝗮𝗹𝗹𝗼𝘄𝗮𝗻𝗰𝗲 𝗼𝗳 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗧𝗮𝘅 𝗖𝗿𝗲𝗱𝗶𝘁
𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗧𝗿𝗶𝗯𝘂𝗻𝗮𝗹 𝗢𝗿𝗱𝗲𝗿 𝗼𝗻 𝗱𝗶𝘀𝗮𝗹𝗹𝗼𝘄𝗮𝗻𝗰𝗲 𝗼𝗳 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗧𝗮𝘅 𝗖𝗿𝗲𝗱𝗶𝘁 𝗞𝗲𝘆 𝗜𝘀𝘀𝘂𝗲𝘀: 1. Denial of Foreign Tax Credit (FTC) due…
Will the notice sent by the wrong officer invalidate the assessment proceeding?
Will the notice sent by the wrong officer invalidate the assessment proceeding? Upholding the order of the Tribunal quashing…
Mere surrender of income would not absolve the assessee from the levy of penalty until and unless the mandatory provisions of Section 271AAA(2) has not been complied.
Mere surrender of income would not absolve the assessee from the levy of penalty until and unless the mandatory provisions…
Final Assessment orders quashed by Mumbai ITAT as it was passed without issue of the draft assessment orders under Section 144C
Final Assessment orders quashed by Mumbai ITAT as it was passed without issue of the draft assessment orders under Section…
Notice issued with a delay of 2 Minutes: Reassessment Proceeding quashed by Delhi HC
Notice issued with a delay of 2 Minutes: Reassessment Proceeding quashed by Delhi HC In a twist that could…
Voluntary disclosure of income does not absolve the assessee from penalties under Section 271(1)(c) and 271AAB: Pune ITAT.
Voluntary disclosure of income does not absolve the assessee from penalties under Section 271(1)(c) and 271AAB: Pune ITAT. The Key…
Benami Transactions: Demonetized currency retained monetary value for conversion within prescribed timelines and so it is “property” under the BPTA
Benami Transactions: Demonetized currency retained monetary value for conversion within prescribed timelines and so it is “property” under the BPTA…
Section 249(4)(b) should not be rigidly when no ITR is filed & where the entire income assessed is disputed: ITAT Agra
Section 249(4)(b) should not be rigidly when no ITR is filed & where the entire income assessed is disputed: ITAT…
Two distinct flats situated on separate floors and lacking structural or functional integration could not be treated as one residential unit: Delhi HC.
Two distinct flats situated on separate floors and lacking structural or functional integration could not be treated as one residential…
Key CGST Rules regarding ITC reversal and apportionment – Rule 37, 39, 42 & 43.
Key CGST Rules regarding ITC reversal and apportionment – Rule 37, 39, 42 & 43. The Central Goods and…
Some important issues in Direct Tax Vivad se Vishwas Scheme:
Some important issues in Direct Tax Vivad se Vishwas Scheme: Introduction: The Direct Tax Vivad Se Vishwas Scheme, 2024,…
If the assessee has not disclosed details of a foreign bank account & does not provide other details on requested by AO, the Department is justified in making the Estimate: Delhi HC
If the assessee has not disclosed details of a foreign bank account & does not provide other details on requested…
Tax Implications of Receiving Property in Exchange for Relinquishing Tenancy Rights
Tax Implications of Receiving Property in Exchange for Relinquishing Tenancy Rights Query 1] I was managing a big commercial property…
ITAT Mumbai case on ‘penny stocks’ where there is no evidence of wrongdoing by assessee and all relevant documents are produced:
ITAT Mumbai case on ‘penny stocks’ where there is no evidence of wrongdoing by assessee and all relevant documents are…
CBDT Relieves Diplomatic Missions and UN Agencies from IT Section 194N Tax Provisions:
CBDT Relieves Diplomatic Missions and UN Agencies from IT Section 194N Tax Provisions: 1. The Central Board of Direct…
Amendment to Circular No. 31/05/2018-GST, dated 9th February, 2018 on ‘Proper officer under sections 73 and 74 of the Central Goods and Services Tax Act, 2017 and under the Integrated Goods and Services Tax Act, 2017’
Amendment to Circular No. 31/05/2018-GST, dated 9th February, 2018 on ‘Proper officer under sections 73 and 74 of the Central…
Whether the scope of assessment U/s 153A could be broadened U/s 263 to include a re-calculation of LTCG pursuant to section 50C in cases where the original assessments remained unabated?
Whether the scope of assessment U/s 153A could be broadened U/s 263 to include a re-calculation of LTCG pursuant to…
