Income Tax

Immunity from penalty under section 270AA: Delay in applying immunity from penalties is only a technical breach of procedural law & immunity should be granted as long as the tax is paid

2 years ago

Immunity from penalty under section 270AA: Delay in applying immunity from penalties is only a technical breach of procedural law…

Income Tax

A Short overview of the Direct Tax Vivad se Vishwas Scheme, 2024

2 years ago

A Short overview of the Direct Tax Vivad se Vishwas Scheme, 2024 Finance Act, 2024, has introduced the Direct…

Income Tax

CBDT notifies Rules & Forms for Direct Tax Vivad Se Vishwas Scheme, 2024.

2 years ago

CBDT notifies Rules & Forms for Direct Tax Vivad Se Vishwas Scheme, 2024. CBDT notifies Rules & Forms for…

Income Tax

Procedural non-compliance: Reassessment notices issued under sections 148 and 148A declared invalid by Bombay HC

2 years ago

Procedural non-compliance: Reassessment notices issued under sections 148 and 148A declared invalid by Bombay HC High Court of Bombay…

Income Tax

Rare Conviction for failure to file audit, MD jailed

2 years ago

Rare Conviction for failure to file audit, MD jailed The copy of the order is as under: WhatsApp…

Income Tax

New Procedural Aspects of Block Assessments:

2 years ago

New Procedural Aspects of Block Assessments: A. Introduction: Block Assessment provisions were introduced in Finance Act 2024, in order…

Income Tax

Presumptive Scheme of Taxation – Not a license to declare lower income

2 years ago

Presumptive Scheme of Taxation – Not a license to declare lower income Query 1] 1. I would like to know…

Income Tax

When it has been established that unsecured loans are accommodation entries, mere repayment is not a ground to drop the addition U/S 68: Mumbai ITAT

2 years ago

When it has been established that unsecured loans are accommodation entries, mere repayment is not a ground to drop the…

Income Tax

Direct Tax Vivad Se Vishwas Scheme, 2024: A Comprehensive Guide

2 years ago

Direct Tax Vivad Se Vishwas Scheme, 2024: A Comprehensive Guide The Central Board of Direct Taxes (CBDT) has officially notified…

Income Tax

Taxability of transfer fees:

2 years ago

Taxability of transfer fees: 1. A co-operative housing society (hereinafter also referred to as ‘Society’) here, includes all Societies…

Income Tax

Interest earned on damages awarded through a decree of a court is a revenue receipt chargeable to tax in India while damages itself will not be chargeable.

2 years ago

Interest earned on damages awarded through a decree of a court is a revenue receipt chargeable to tax in India…

Income Tax

Issuance of notice under section 143(2) is mandatory: Procedural lapse is fatal and cannot be cured

2 years ago

Issuance of notice under section 143(2) is mandatory: Procedural lapse is fatal and cannot be cured Here is an…

Income Tax other topic

Carry forward of losses in the case of takeover of a company undergoing NCLT proceedings:

2 years ago

Carry forward of losses in the case of takeover of a company undergoing NCLT proceedings: Introduction to Sec 79:…

Income Tax

CBDT Circular enhancing the monetary thresholds for filing appeals by the Department against orders passed in favor of the Assessee

2 years ago

CBDT Circular enhancing the monetary thresholds for filing appeals by the Department against orders passed in favor of the Assessee…

Income Tax

Income Tax Refund cannot be denied only on account of discrepancies in Form 26AS: Delhi HC

2 years ago

Income Tax Refund cannot be denied only on account of discrepancies in Form 26AS: Delhi HC Facts of the…

Income Tax

Exemption u/s. 10(38) disallowed as sale of share was an affair to convert unaccounted money: ITAT Ahmedabad

2 years ago

Exemption u/s. 10(38) disallowed as sale of share was an affair to convert unaccounted money: ITAT Ahmedabad Facts: 1.…

Income Tax

Understanding Deferred Tax Assets and Liabilities: An overview

2 years ago

Understanding Deferred Tax Assets and Liabilities: An overview Deferred Tax Asset (DTA) When a company has paid more taxes according…

Income Tax

Finance Act 2024: A Strategic Push towards the New Tax Regime

2 years ago

Finance Act 2024: A Strategic Push towards the New Tax Regime In an effort to simplify the process of filing…

Income Tax

Immunity from penalty under section 270AA: Delay in applying immunity from penalties is only a technical breach of procedural law & immunity should be granted as long as the tax is paid

A Short overview of the Direct Tax Vivad se Vishwas Scheme, 2024

CBDT notifies Rules & Forms for Direct Tax Vivad Se Vishwas Scheme, 2024.

Procedural non-compliance: Reassessment notices issued under sections 148 and 148A declared invalid by Bombay HC

Rare Conviction for failure to file audit, MD jailed

New Procedural Aspects of Block Assessments:

Presumptive Scheme of Taxation – Not a license to declare lower income

When it has been established that unsecured loans are accommodation entries, mere repayment is not a ground to drop the addition U/S 68: Mumbai ITAT

Direct Tax Vivad Se Vishwas Scheme, 2024: A Comprehensive Guide

Taxability of transfer fees:

Interest earned on damages awarded through a decree of a court is a revenue receipt chargeable to tax in India while damages itself will not be chargeable.

Issuance of notice under section 143(2) is mandatory: Procedural lapse is fatal and cannot be cured

Carry forward of losses in the case of takeover of a company undergoing NCLT proceedings:

CBDT Circular enhancing the monetary thresholds for filing appeals by the Department against orders passed in favor of the Assessee

Income Tax Refund cannot be denied only on account of discrepancies in Form 26AS: Delhi HC

Exemption u/s. 10(38) disallowed as sale of share was an affair to convert unaccounted money: ITAT Ahmedabad

Understanding Deferred Tax Assets and Liabilities: An overview

Finance Act 2024: A Strategic Push towards the New Tax Regime

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