Income Tax

News, Blog, Income Tax

December 8, 2022

A transaction can’t be treated as Benami if alleged beneficial owner is actually the joint owner of property: ITAT

Case Details: ACIT v. Tupelo … Continue reading “A transaction can’t be treated as Benami if alleged beneficial owner is actually the joint owner of property: ITAT”

Blog, News, Income Tax

December 8, 2022

[Opinion] Perplexity on claim of Foreign Tax Credit of State taxes paid in countries with which India has DTAA

Deepak Goel – [2022] 145 … Continue reading “[Opinion] Perplexity on claim of Foreign Tax Credit of State taxes paid in countries with which India has DTAA”

Blog, News, Income Tax

December 7, 2022

[Opinion] Writ vs Appeal – The Quintessential Conundrum

Sanjeeva Narayan and Bhavesh Jindal … Continue reading “[Opinion] Writ vs Appeal – The Quintessential Conundrum”

Blog, News, Income Tax

December 7, 2022

Demerger sanctioned by NCLT is tax-compliant only if conditions in Sec. 2(19AA) are satisfied

Case Details: Grasim Industries Ltd. … Continue reading “Demerger sanctioned by NCLT is tax-compliant only if conditions in Sec. 2(19AA) are satisfied”

News, Blog, Income Tax

December 6, 2022

[Opinion] Whether the safe harbour limits provided under the Income-tax Act are prospective or retrospective?

Mukesh Kohli – [2022] 145 … Continue reading “[Opinion] Whether the safe harbour limits provided under the Income-tax Act are prospective or retrospective?”

Blog, News, Income Tax

December 6, 2022

Share valuation report by CA can’t be accepted if it is based on only basic info. supplied by management: ITAT

Case Details: ITO v. LNB … Continue reading “Share valuation report by CA can’t be accepted if it is based on only basic info. supplied by management: ITAT”

Blog, News, Income Tax

December 5, 2022

Time-barred appeal should be allowed if it involves a substantial question of law: HC

Case Details: PCIT v. Soorajmul … Continue reading “Time-barred appeal should be allowed if it involves a substantial question of law: HC”

Blog, News, Income Tax

December 3, 2022

CA not expected to check genuineness of documents submitted by client while issuing Form 15CB

Case Details: Murali Krishna Chakrala … Continue reading “CA not expected to check genuineness of documents submitted by client while issuing Form 15CB”

News, Blog, Income Tax

December 2, 2022

Cash withdrawal by Primary Agricultural Credit Co-operative Societies isn’t exempt from Sec. 194N TDS

Case Details: Molasi Primary Agricultural … Continue reading “Cash withdrawal by Primary Agricultural Credit Co-operative Societies isn’t exempt from Sec. 194N TDS”

Blog, News, Income Tax

December 2, 2022

CBDT notifies specified income of ‘Federation Internationale de Football Association’ exempt u/s 10(39)

Notification No. 126/2022, dated 30-11-2022 … Continue reading “CBDT notifies specified income of ‘Federation Internationale de Football Association’ exempt u/s 10(39)”