When Charity is Harder than Business: Stricter Tax Rules for Charitable Trusts
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
Gift from father and father in law cannot be made taxable on mere technical grounds: ITAT Delhi Facts: 1.…
Section 292B could not cure the jurisdictional defect of issuing a notice to a non-existent person.
Section 292B could not cure the jurisdictional defect of issuing a notice to a non-existent person. The Delhi High…
Reopening based on the information received in accordance with the Risk Management Strategy (RMS): Bombay HC dismissed writ petition
Reopening based on the information received in accordance with the Risk Management Strategy (RMS): Bombay HC dismissed writ petition Bombay…
Relinquishment or extinguishment of rights is taxable even without a conventional sale
Relinquishment or extinguishment of rights is taxable even without a conventional sale The Supreme Court in a recent case before…
Input Tax Credit (ITC) cannot be claimed on goods purchased for sales promotions
Input Tax Credit (ITC) cannot be claimed on goods purchased for sales promotions The recent Madras High Court judgment…
Filing an Updated Return under Section 139(8A) of the Income Tax Act, 1961: An overview
Filing an Updated Return under Section 139(8A) of the Income Tax Act, 1961: An overview If any taxpayers has…
Period of limitation should be computed from the date of uploading the order over ITBA
Period of limitation should be computed from the date of uploading the order over ITBA Telangana High Court in…
Satisfactory bills & Vouchers not produced – Denial of entire expenditure not justified while computing capital gain : ITAT Delhi
Satisfactory bills & Vouchers not produced – Denial of entire expenditure not justified while computing capital gain : ITAT Delhi Denial…
The Dilemma of rebate U/s 87A: A Short Overview
The Dilemma of rebate U/s 87A: A Short Overview The IT Act includes a specific carve-out under Section 112A, which…
ITAT lacks power to review orders based on subsequent decision of supreme court: Bombay HC
ITAT lacks power to review orders based on subsequent decision of supreme court: Bombay HC In a significant ruling,…
Amalgamation expenses not to be allowed as business expenses
Amalgamation expenses not to be allowed as business expenses ITAT, Ahemdabad in the case of Ambalal Sarabhai Enterprises Ltd…
Can the authorised officer break open the lock of the door during the course of income tax search proceedings?
Can the authorised officer break open the lock of the door during the course of income tax search proceedings? 1. …
Assessment was completed without examination of books of account but also without rejection of books: ITAT remands back the matter
Assessment was completed without examination of books of account but also without rejection of books: ITAT remands back the matter…
Disallowance requires a direct nexus – No disallowance of expenses u/s 14A for exempt dividend income when investments were made in earlier years
Disallowance requires a direct nexus – No disallowance of expenses u/s 14A for exempt dividend income when investments were made…
The notice issued under Section 148A(d) to a deceased person was void ab initio: Delhi HC
The notice issued under Section 148A(d) to a deceased person was void ab initio: Delhi HC The Delhi High…
Issues not considered in original assessment – Reassessment proceeding not illegal: Bombay HC
Issues not considered in original assessment – Reassessment proceeding not illegal: Bombay HC Bombay High Court: Sanjay Ratra WP…
Reduction of capital constitutes a ‘transfer’ of capital assets under Section 2(47) of the Income Tax: Supreme Court
Reduction of capital constitutes a ‘transfer’ of capital assets under Section 2(47) of the Income Tax: Supreme Court The Supreme…
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