Income Tax

Admission made under pressure does not equate to valid tax liabilities: Revenue authorities must provide substantial evidence to support their claims.

1 year ago

Admission made under pressure does not equate to valid tax liabilities: Revenue authorities must provide substantial evidence to support their…

Income Tax

Not opening separate Bank Account for private placement of Fund: ROC imposed fine of Rs. 5 Lakh

1 year ago

Not opening separate Bank Account for private placement of Fund: ROC imposed fine of Rs. 5 Lakh The ROC,…

Income Tax

Incorrect Form No. 16 data provided by his employer resulting in years of unresolved tax demands: ITAT condoned 10 years of delay in filing appeal

1 year ago

Incorrect Form No. 16 data provided by his employer resulting in years of unresolved tax demands: ITAT condoned 10 years…

Income Tax

Losses in speculative business- provisions for set off and carry forward

1 year ago

Losses in speculative business- provisions for set off and carry forward Introduction: A speculation loss refers to the financial…

Income Tax

Tax Planning with Tradition: Maximizing Savings through HUF Structure

1 year ago

Tax Planning with Tradition: Maximizing Savings through HUF Structure Tax planning is a dynamic field where even well-known strategies…

Income Tax

The Assessing Officer (AO) cannot consider claims made in a revised return filed after the deadline for filing the revised ROI has expired: Supreme Court.

1 year ago

The Assessing Officer (AO) cannot consider claims made in a revised return filed after the deadline for filing the revised…

Income Tax

In case of genuine hardship, delay in filing of ITR may be condoned by the CBDT: Bombay HC

1 year ago

In case of genuine hardship, delay in filing of ITR may be condoned by the CBDT: Bombay HC Smita Dilip…

Income Tax

Expenditure incurred for payment of foreclosure premium for restructuring loan and obtaining fresh loan at a lower rate of interest Vs Revisionary power of CIT u/s 263

1 year ago

Expenditure incurred for payment of foreclosure premium for restructuring loan and obtaining fresh loan at a lower rate of interest…

Income Tax

Introduction of Form DRC-03A: An overview

1 year ago

Introduction of Form DRC-03A: An overview Department has observed that some taxpayers have paid the amount demanded vide DRC…

Income Tax

Tax clearance certificate (TCC): Form No 30A & Non domiciled visitors in India

1 year ago

Tax clearance certificate (TCC): Form No 30A & Non domiciled visitors in India What is ‘domicile’? 1. The term…

Income Tax

Any claim made in the revised return post the due date of filing the revised return cannot be considered by the Assessing Officer

1 year ago

Any claim made in the revised return post the due date of filing the revised return cannot be considered by…

Income Tax

Principle of Consistency to be taken into Consideration While Selecting the Most Appropriate Method: Delhi HC

1 year ago

Principle of Consistency to be taken into Consideration While Selecting the Most Appropriate Method: Delhi HC Facts: 1. The…

Income Tax

Landmark Judgment by Kerala High Court on Rule 96(10) of the CGST Rules

1 year ago

Landmark Judgment by Kerala High Court on Rule 96(10) of the CGST Rules The Kerala High Court recently delivered…

Income Tax

Technological challenges cannot justify harassing an assessee, Income Tax Department should improve its software to prevent future errors: SC

1 year ago

Technological challenges cannot justify harassing an assessee, Income Tax Department should improve its software to prevent future errors: SC …

Income Tax

MCA imposed Penalty of ₹20 Lakh for delay In appointing whole-Time Company Secretary

1 year ago

MCA imposed Penalty of ₹20 Lakh for delay In appointing whole-Time Company Secretary In the matter of M/s. Venkatramana…

Income Tax

Approval of delay application should focus on sufficient reason, not merits of claim U/s 119(2)(b) of Income Tax Act: Kerala High Court

1 year ago

Approval of delay application should focus on sufficient reason, not merits of claim U/s 119(2)(b) of Income Tax Act: Kerala…

Income Tax

Section 43A Vs. Foreign exchange fluctuations on loan taken to buy capital assets in India

1 year ago

Section 43A Vs. Foreign exchange fluctuations on loan taken to buy capital assets in India Recently in PR. COMMISSIONER…

Income Tax

Affidavit & Declaration on stamp paper of Rs. 100 shall continue to be valid: Clarification Circular issued by Maharashtra Stamp Department

1 year ago

Affidavit & Declaration on stamp paper of Rs. 100 shall continue to be valid: Clarification Circular issued by Maharashtra Stamp…

Income Tax

Admission made under pressure does not equate to valid tax liabilities: Revenue authorities must provide substantial evidence to support their claims.

Not opening separate Bank Account for private placement of Fund: ROC imposed fine of Rs. 5 Lakh

Incorrect Form No. 16 data provided by his employer resulting in years of unresolved tax demands: ITAT condoned 10 years of delay in filing appeal

Losses in speculative business- provisions for set off and carry forward

Tax Planning with Tradition: Maximizing Savings through HUF Structure

The Assessing Officer (AO) cannot consider claims made in a revised return filed after the deadline for filing the revised ROI has expired: Supreme Court.

In case of genuine hardship, delay in filing of ITR may be condoned by the CBDT: Bombay HC

Expenditure incurred for payment of foreclosure premium for restructuring loan and obtaining fresh loan at a lower rate of interest Vs Revisionary power of CIT u/s 263

Introduction of Form DRC-03A: An overview

Tax clearance certificate (TCC): Form No 30A & Non domiciled visitors in India

Any claim made in the revised return post the due date of filing the revised return cannot be considered by the Assessing Officer

Principle of Consistency to be taken into Consideration While Selecting the Most Appropriate Method: Delhi HC

Landmark Judgment by Kerala High Court on Rule 96(10) of the CGST Rules

Technological challenges cannot justify harassing an assessee, Income Tax Department should improve its software to prevent future errors: SC

MCA imposed Penalty of ₹20 Lakh for delay In appointing whole-Time Company Secretary

Approval of delay application should focus on sufficient reason, not merits of claim U/s 119(2)(b) of Income Tax Act: Kerala High Court

Section 43A Vs. Foreign exchange fluctuations on loan taken to buy capital assets in India

Affidavit & Declaration on stamp paper of Rs. 100 shall continue to be valid: Clarification Circular issued by Maharashtra Stamp Department

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