CBDT notifies rules to calculate life insurance income where premium exceeds Rs.5 lakh
CBDT notifies rules to calculate life insurance income where premium exceeds Rs.5 lakh The Central Board of Direct Taxes (CBDT)…
Income Tax
Interest income, earned by clubs on FDs in banks which are corporate members, is taxable: SC
Interest income, earned by clubs on FDs in banks which are corporate members, is taxable: SC SECUNDRABAD CLUB ETC.…
CBDT Circular Condonation of delay in nIing refund claim and claim of carry forward of losses under Section 119(2I1b) of the Income-tax Act, 1961.
CBDT Circular Condonation of delay in nIing refund claim and claim of carry forward of losses under Section 119(2I1b) of…
Suggestion invited by CBDT on Draft Form No. 6C formulated for inventory valuation by Cost Accountant.
Suggestion invited by CBDT on Draft Form No. 6C formulated for inventory valuation by Cost Accountant. CBDT invites comments…
No addition on account of sale of penny stock, if no direct involvement of the assessee: Bombay HC
No addition on account of sale of penny stock, if no direct involvement of the assessee: Bombay HC Tag: Penny…
Sec 142(1) and Sec 148 cannot operate concurrently: ITAT Dehradun
Sec 142(1) and Sec 148 cannot operate concurrently: ITAT Dehradun Uttrakhand Poorv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT…
Recording of transaction in the books is important in determining the taxation: ITAT
Recording of transaction in the books is important in determining the taxation: ITAT Facts: During the year under…
No Audit if the turnover is below Rs. 10 Cr: Confusion & Clarification
No Audit if the turnover is below Rs. 10 Cr: Confusion & Clarification Query 1] As per Sec…
Inflated cash sales not commensurate with earlier year sales cannot be the basis of addition U/s 68
Inflated cash sales not commensurate with earlier year sales cannot be the basis of addition U/s 68 Mumbai ITAT…
Bombay HC quashed notice issued under section 148 on wrong facts and also the subsequent assessment order
Bombay HC quashed notice issued under section 148 on wrong facts and also the subsequent assessment order The copy…
Demand notices based on GSTR 2A and GSTR 3B ITC discrepancies cannot be upheld without investigating the supplier whose invoices are missing from GSTR 2A.
Demand notices based on GSTR 2A and GSTR 3B ITC discrepancies cannot be upheld without investigating the supplier whose invoices…
Whether its processing under section 143(1)(a) or assessment U/s 143(3), PF / ESCI delayed payment is not allowable as deduction: ITAT Delhi
Whether its processing under section 143(1)(a) or assessment U/s 143(3), PF / ESCI delayed payment is not allowable as deduction:…
No penalty under section 271(1)(c) if disallowance is made suo motu by the Assessee
No penalty under section 271(1)(c) if disallowance is made suo motu by the Assessee ITAT Delhi has recently held that…
Assessment order passed without granting personal hearing quashed by Bombay High Court
Assessment order passed without granting personal hearing quashed by Bombay High Court Hon’ble Bombay High Court assessment order where…
Artificial Intelligence and Strong Database to drive Income Tax Department
Artificial Intelligence and Strong Database to drive Income Tax Department “About 1,00,000 notices were sent… …By March 2024, this entire…
Deferred shares are akin to ordinary shares, transfer pricing adjustment is upheld: ITAT
Deferred shares are akin to ordinary shares, transfer pricing adjustment is upheld: ITAT Facts: 1. The case involved the…
Compliance Calendar for Aug- 23
Compliance Calendar for Aug- 23 INCOME TAX ▪ 7th Aug 2023- Due date for payment of TDS/TCS for the month…
Renting of Immovable Property and other services by Director to the Company
Renting of Immovable Property and other services by Director to the Company Services provided by director of a company or…
