Income Tax

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January 11, 2023

CBDT removed limit of Rs. 5,000 for submission of SFT in relation to interest income

Notification no. 1 of 2023, … Continue reading “CBDT removed limit of Rs. 5,000 for submission of SFT in relation to interest income”

News, Blog, Income Tax

January 10, 2023

CIT can look into report of ‘Directorate of Vigilance & Anti-Corruption’ to invoke Sec. 263: HC

Case Details: CIT v. N. … Continue reading “CIT can look into report of ‘Directorate of Vigilance & Anti-Corruption’ to invoke Sec. 263: HC”

Blog, News, Income Tax

January 10, 2023

[Opinion] FAQs on Revision of Orders Prejudicial to Revenue

Section 263 enables the Commissioner … Continue reading “[Opinion] FAQs on Revision of Orders Prejudicial to Revenue”

Blog, News, Income Tax

January 9, 2023

CBDT extends deadline to comply with Sec. 54 to 54GB provisions

Circular No 1 of 2023 … Continue reading “CBDT extends deadline to comply with Sec. 54 to 54GB provisions”

Blog, News, Income Tax

January 9, 2023

ITAT criticizes AO for ordering special audit just to get an extension of time to pass assessment order

Case Details: Rajiv Kumar v. … Continue reading “ITAT criticizes AO for ordering special audit just to get an extension of time to pass assessment order”

Blog, News, Income Tax

January 7, 2023

No violation of Sec. 47(xiiib) if partner’s capital is credited with goodwill recorded by LLP post-conversion: ITAT

Case Details: ITO Vs. M/s … Continue reading “No violation of Sec. 47(xiiib) if partner’s capital is credited with goodwill recorded by LLP post-conversion: ITAT”

Blog, News, Income Tax

January 6, 2023

Salary & bonus paid to partners collectively termed as remuneration, not subject to TDS: ITAT

Case Details: ACIT v. Dhar … Continue reading “Salary & bonus paid to partners collectively termed as remuneration, not subject to TDS: ITAT”

Blog, News, Income Tax

January 5, 2023

HC can’t interfere with finding of facts recorded by ITAT without specific question of law: SC

Case Details: Muthoot Leasing and … Continue reading “HC can’t interfere with finding of facts recorded by ITAT without specific question of law: SC”

Blog, News, Income Tax

January 5, 2023

[Opinion] Tax turmoil on Social Welfare Fund and its aftermath!

CA Simarjot Singh & CA … Continue reading “[Opinion] Tax turmoil on Social Welfare Fund and its aftermath!”

News, Blog, Income Tax

January 4, 2023

Purchase by assessee couldn’t be treated as bogus if AO didn’t dispute corresponding sales transactions: HC

Case Details: Principal Commissioner of … Continue reading “Purchase by assessee couldn’t be treated as bogus if AO didn’t dispute corresponding sales transactions: HC”