Income TaxCan a Hindu Undivided Family (HUF) Be Created After Marriage Without Children?2 months agoCan a Hindu Undivided Family (HUF) Be Created After Marriage Without Children? Introduction Many Hindu families in India explore…
Income TaxMere Low Spending Not a Ground to Deny Section 12AB Registration: ITAT Bangalore2 months agoMere Low Spending Not a Ground to Deny Section 12AB Registration: ITAT Bangalore St. Joseph Engineering College Alumni Association,…
Income TaxPurchase of Rural agricultural land below its stamp duty valuation is taxable under section 56(2)(x)2 months agoPurchase of Rural agricultural land below its stamp duty valuation is taxable under section 56(2)(x) The assessee purchased land classified…
Income TaxTDSCommon Mistakes to avoid in salary ITR Filing Mistakes2 months agoCommon Mistakes to avoid in salary ITR Filing Mistakes As the ITR season gains pace, it’s crucial for salaried professionals…
Income TaxDocuments seized during a search can be valid basis for additions, even if they are in the form of personal diaries or informal records.2 months agoDocuments seized during a search can be valid basis for additions, even if they are in the form of personal…
Income TaxMerely passing an ex parte order by fulfilling the empty formalities will not serve any useful purpose: Madras HC2 months agoMerely passing an ex parte order by fulfilling the empty formalities will not serve any useful purpose: Madras HC …
Income TaxITAT Delhi Holds GoDaddy.com’s Revenues Not Taxable in India as Royalty or FTS2 months ago ITAT Delhi Holds GoDaddy.com‘s Revenues Not Taxable in India as Royalty or FTS Landmark Ruling: Hon’ble ITAT Delhi Holds GoDaddy.com’s Revenues…
Income TaxWhether equity oriented funds are equivalent to shares from the standpoint of taxability under India Mauritius Treaty?2 months agoWhether equity oriented funds are equivalent to shares from the standpoint of taxability under India Mauritius Treaty? Key Issue:…
Income TaxCan India Tax Capital Gains from Foreign Share Buybacks? A Non-Resident’s Dilemma2 months agoCan India Tax Capital Gains from Foreign Share Buybacks? A Non-Resident’s Dilemma Question: Whether capital gains arising to a non-resident…
Income TaxITAT Delhi Accepts Cash Deposits as Salary Savings, Religious Practice and Lack of Other Income cited2 months agoITAT Delhi Accepts Cash Deposits as Salary Savings, Religious Practice and Lack of Other Income cited The assessee, a…
Income TaxITAT Visakhapatnam Upholds Telescoping: Rs. 1.25 Cr Marriage Expense Not Taxable in Individual Hands as Income Offered by Group Company2 months agoITAT Visakhapatnam Upholds Telescoping: Rs. 1.25 Cr Marriage Expense Not Taxable in Individual Hands as Income Offered by Group Company…
Income TaxA mere difference in opinion is not sufficient to invoke Section 263: ITAT Ahmedabad2 months agoA mere difference in opinion is not sufficient to invoke Section 263: ITAT Ahmedabad Recently, ITAT Ahmedabad in ITA…
Income TaxROC Bangalore imposed penalty of Rs. 2.25 Lakh for failure to make ‘‘Appointment of Internal Auditor’’ u/s 138(1) & (2) r/w Rule 13(1) Of the Companies (Accounts) Rules, 20142 months agoROC Bangalore imposed penalty of Rs. 2.25 Lakh for failure to make ‘‘Appointment of Internal Auditor’’ u/s 138(1) & (2)…
Income TaxCash deposits during Demonetization and explanation of accumulated saving belonging to the family members – Issue before Delhi ITAT2 months agoCash deposits during Demonetization and explanation of accumulated saving belonging to the family members – Issue before Delhi ITAT In…
Income TaxSection 143(2): When the Taxman Knocks, Should You Panic or Prepare?2 months agoSection 143(2): When the Taxman Knocks, Should You Panic or Prepare? It’s that time of the year again – and…
Income TaxDoes Sec 56(2)(x) apply to purchase of rural agricultural land?2 months agoDoes Sec 56(2)(x) apply to purchase of rural agricultural land? Practical case: 1. Suppose an assessee has purchased a property…
Income TaxGuidelines for recording reasons for reopening assessments are only a guidance for the AO: Calcutta HC2 months agoGuidelines for recording reasons for reopening assessments are only a guidance for the AO: Calcutta HC Principal CIT-9 Kolkata…
Income TaxITAT Mumbai dropped non-compliance of penalty of Actress Shilpa Shetty as compliance with notices was done prior to assessment order2 months agoITAT Mumbai dropped non-compliance of penalty of Actress Shilpa Shetty as compliance with notices was done prior to assessment order…