Non-filing of Form 10 – Accumulation U/s 11(2) cannot be denied if delay is condoned by appropriate authority
Non-filing of Form 10 – Accumulation U/s 11(2) cannot be denied if delay is condoned by appropriate authority Income…
Income Tax
Whether the power U/s 119(2)(b) allows commissioners to admit a belated Form 9A & condone the delay if assessee provides valid reasons
Whether the power U/s 119(2)(b) allows commissioners to admit a belated Form 9A & condone the delay if assessee provides…
Last date for furnishing Belated/Revised return for AY 2024-25 in the case of Resident individuals extended by 15 days – Thanks to Bombay HC
Last date for furnishing Belated/Revised return for AY 2024-25 in the case of Resident individuals extended by 15 days –…
Extension of the validity of FCRA registration certificates
Extension of the validity of FCRA registration certificates The copy of the order is as under: fc_notice_27122024
Banning of Unregulated Lending Activities Bill: Implications for Businesses and Individual Lenders
Banning of Unregulated Lending Activities Bill: Implications for Businesses and Individual Lenders To curb unregulated lending activities & to…
Mere review of the same documents that had been submitted during the original assessment does not warrant reopening of assessment: Bombay HC
Mere review of the same documents that had been submitted during the original assessment does not warrant reopening of assessment:…
Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits?
Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits? Situation: 1. Consider a…
Interest earned on Borrowed Funds kept for acquiring coal mine is not revenue receipt even if coal mine is aborted, borrowings are repaid: Delhi HC
Interest earned on Borrowed Funds kept for acquiring coal mine is not revenue receipt even if coal mine is aborted,…
Taxation in the wrong Assessment Year: ITAT deleted addition
Taxation in the wrong Assessment Year: ITAT deleted addition Let us have a Short Overview of the case which…
ITAT agrees on the concept of Tax Loss Harvesting adopted by the Taxpayers.
ITAT agrees on the concept of Tax Loss Harvesting adopted by the Taxpayers. Recently, ITAT has held that the…
Foundation of the assessment is erroneous and void ab initio as notice under section 143(2) issued by another AO to whom jurisdiction was transferred much later: ITAT
Foundation of the assessment is erroneous and void ab initio as notice under section 143(2) issued by another AO to…
“Human probabilities” and the concept of penny stock may not justify additioni without assessee’s involvement
“Human probabilities” and the concept of penny stock may not justify additioni without assessee’s involvement The ITAT Delhi in…
New law to curb unregulated and fraudulent private money lending practices
New law to curb unregulated and fraudulent private money lending practices A draft of the ‘Banning of Unregulated Lending Activities’…
Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits?
Can purchase of more than one residential unit by HUF qualify for Sec 54 benefits? Situation: 1. Consider a…
Interest on surplus fund during pre-commencement of the business – Whether Business Income or Other source Income?
Interest on surplus fund during pre-commencement of the business – Whether Business Income or Other source Income? The question of…
Conversion of Sole Proprietorship to a Company is not a transfer & Exempt from capital gains tax
Conversion of Sole Proprietorship to a Company is not a transfer & Exempt from capital gains tax Conversion of Sole…
Change in the Tax Law Related to Partnership Firm & the Controversial issues
Change in the Tax Law Related to Partnership Firm & the Controversial issues Amendment in remuneration limit: 1. The…
Taxpayers Facing Assessments Due to ITC Claimed Under the Wrong Head- Relief by Kerala HC
Taxpayers Facing Assessments Due to ITC Claimed Under the Wrong Head- Relief by Kerala HC Taxpayers undergoing assessments for ITC…
