Income Tax

Loss on sale of shares on Stock Exchange can be set off against LTCG from sale of unlisted shares if STT is paid on quoted shares even if LTCG on shares Exempt U/s 10(38): ITAT Kolkata

2 years ago

Loss on sale of shares on Stock Exchange can be set off against LTCG from sale of unlisted shares if…

Income Tax

Surcharge on income tax applicable only on income exceeding ₹50 Lakhs and not to be considered for MMR if income is below the limit: ITAT Kolkata

2 years ago

Surcharge on income tax applicable only on income exceeding ₹50 Lakhs and not to be considered for MMR if income…

Income Tax

Discrepancies in reporting in number of Board Meeting in MGT-7A vis a vis Board meetings – ROC imposed monetary penalty on a Company

2 years ago

Discrepancies in reporting in number of Board Meeting in MGT-7A vis a vis Board meetings – ROC imposed monetary penalty…

Income Tax

Non-appointment of at least one woman director on the board under section 149 – ROC imposed fine on 3 companies

2 years ago

Non-appointment of at least one woman director on the board under section 149 – ROC imposed fine on 3 companies…

Income Tax

Intimation under Section 143(1) issued without providing an opportunity to the assessee, violates the principles of natural justice and hence unsustainable: ITAT Banglore.

2 years ago

Intimation under Section 143(1) issued without providing an opportunity to the assessee, violates the principles of natural justice and hence…

Income Tax

Clearance of PF/ESI payment after the due date due to technical glitches/server issues is allowable as deduction: ITAT Ahemedabad

2 years ago

Clearance of PF/ESI payment after the due date due to technical glitches/server issues is allowable as deduction: ITAT Ahemedabad …

Income Tax

VAT Penalties not allowable as Deduction: ITAT Bangalore

2 years ago

VAT Penalties not allowable as Deduction: ITAT Bangalore Recently, ITAT Banglore in the case of Kadharegowda Siddaraju vs ITO…

Income Tax

When Charity is Harder than Business: Stricter Tax Rules for Charitable Trusts

2 years ago

When Charity is Harder than Business: Stricter Tax Rules for Charitable Trusts Running a charitable trust might seem simpler than managing a…

Income Tax

Gift from father and father in law cannot be made taxable on mere technical grounds: ITAT Delhi

2 years ago

Gift from father and father in law cannot be made taxable on mere technical grounds: ITAT Delhi Facts: 1.…

Income Tax

Section 292B could not cure the jurisdictional defect of issuing a notice to a non-existent person.

2 years ago

Section 292B could not cure the jurisdictional defect of issuing a notice to a non-existent person. The Delhi High…

Income Tax

Reopening based on the information received in accordance with the Risk Management Strategy (RMS): Bombay HC dismissed writ petition

2 years ago

Reopening based on the information received in accordance with the Risk Management Strategy (RMS): Bombay HC dismissed writ petition Bombay…

Income Tax

Relinquishment or extinguishment of rights is taxable even without a conventional sale

2 years ago

Relinquishment or extinguishment of rights is taxable even without a conventional sale The Supreme Court in a recent case before…

Income Tax

Input Tax Credit (ITC) cannot be claimed on goods purchased for sales promotions

2 years ago

Input Tax Credit (ITC) cannot be claimed on goods purchased for sales promotions The recent Madras High Court judgment…

Income Tax

Filing an Updated Return under Section 139(8A) of the Income Tax Act, 1961: An overview

2 years ago

Filing an Updated Return under Section 139(8A) of the Income Tax Act, 1961: An overview If any taxpayers has…

Income Tax

Period of limitation should be computed from the date of uploading the order over ITBA

2 years ago

Period of limitation should be computed from the date of uploading the order over ITBA Telangana High Court in…

Income Tax

Satisfactory bills & Vouchers not produced – Denial of entire expenditure not justified while computing capital gain : ITAT Delhi

2 years ago

Satisfactory bills & Vouchers not produced – Denial of entire expenditure not justified while computing capital gain : ITAT Delhi Denial…

GST Income Tax

The Dilemma of rebate U/s 87A: A Short Overview

2 years ago

The Dilemma of rebate U/s 87A: A Short Overview The IT Act includes a specific carve-out under Section 112A, which…

Income Tax

ITAT lacks power to review orders based on subsequent decision of supreme court: Bombay HC

2 years ago

ITAT lacks power to review orders based on subsequent decision of supreme court: Bombay HC In a significant ruling,…

Income Tax

Loss on sale of shares on Stock Exchange can be set off against LTCG from sale of unlisted shares if STT is paid on quoted shares even if LTCG on shares Exempt U/s 10(38): ITAT Kolkata

Surcharge on income tax applicable only on income exceeding ₹50 Lakhs and not to be considered for MMR if income is below the limit: ITAT Kolkata

Discrepancies in reporting in number of Board Meeting in MGT-7A vis a vis Board meetings – ROC imposed monetary penalty on a Company

Non-appointment of at least one woman director on the board under section 149 – ROC imposed fine on 3 companies

Intimation under Section 143(1) issued without providing an opportunity to the assessee, violates the principles of natural justice and hence unsustainable: ITAT Banglore.

Clearance of PF/ESI payment after the due date due to technical glitches/server issues is allowable as deduction: ITAT Ahemedabad

VAT Penalties not allowable as Deduction: ITAT Bangalore

When Charity is Harder than Business: Stricter Tax Rules for Charitable Trusts

Gift from father and father in law cannot be made taxable on mere technical grounds: ITAT Delhi

Section 292B could not cure the jurisdictional defect of issuing a notice to a non-existent person.

Reopening based on the information received in accordance with the Risk Management Strategy (RMS): Bombay HC dismissed writ petition

Relinquishment or extinguishment of rights is taxable even without a conventional sale

Input Tax Credit (ITC) cannot be claimed on goods purchased for sales promotions

Filing an Updated Return under Section 139(8A) of the Income Tax Act, 1961: An overview

Period of limitation should be computed from the date of uploading the order over ITBA

Satisfactory bills & Vouchers not produced – Denial of entire expenditure not justified while computing capital gain : ITAT Delhi

The Dilemma of rebate U/s 87A: A Short Overview

ITAT lacks power to review orders based on subsequent decision of supreme court: Bombay HC

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