Income Tax

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January 4, 2023

No Sec. 68 additions for cash deposited during demonetisation from available balance: ITAT

Case Details: R. S. Diamonds … Continue reading “No Sec. 68 additions for cash deposited during demonetisation from available balance: ITAT”

Blog, News, Income Tax

January 3, 2023

ITAT disallowed 50% of improvement expenses as assessee failed to substantiate genuineness of expenses

Case Details: Assistant Commissioner of … Continue reading “ITAT disallowed 50% of improvement expenses as assessee failed to substantiate genuineness of expenses”

News, Blog, Income Tax

January 2, 2023

Cash receipt by Co-op. Society from dealer not to be aggregated for Sec. 269ST purposes: CBDT

Circular No. 25/2022, dated, 30-12-2022 … Continue reading “Cash receipt by Co-op. Society from dealer not to be aggregated for Sec. 269ST purposes: CBDT”

Blog, News, Income Tax

January 2, 2023

Govt. notifies interest rates for small saving schemes for 4th quarter; FDs rates hiked by 1.10%

Office memo F. no. 1/4/2019-NS, … Continue reading “Govt. notifies interest rates for small saving schemes for 4th quarter; FDs rates hiked by 1.10%”

Blog, News, Income Tax

December 31, 2022

Sec. 11 exemption can’t be granted just because assessee having Sec. 12AA registration: ITAT

Case Details: ACIT (Exemption) v. … Continue reading “Sec. 11 exemption can’t be granted just because assessee having Sec. 12AA registration: ITAT”

Blog, News, Income Tax

December 30, 2022

CBDT notifies ‘1000242244 Ontario Inc.’ for Sec. 10(23FE) exemption

Notification No.128/2022, dated 28-12-2022 The … Continue reading “CBDT notifies ‘1000242244 Ontario Inc.’ for Sec. 10(23FE) exemption”

Blog, News, Income Tax

December 30, 2022

No Sec. 263 revision if invoice of AY 2015-16 accounted in AY 2016-17 as tax rates are same: HC

Case Details: PCIT vs. Britannia … Continue reading “No Sec. 263 revision if invoice of AY 2015-16 accounted in AY 2016-17 as tax rates are same: HC”

News, Blog, Income Tax

December 30, 2022

[Opinion] Whether sections 54(2)/54F(4) are procedural sections and not mandatory?

Mukesh Kohli – [2022] 145 … Continue reading “[Opinion] Whether sections 54(2)/54F(4) are procedural sections and not mandatory?”

Top Rulings 2024, Blog, Income Tax

January 3, 2025

[Analysis] Key Direct Tax Rulings of 2024 | A Review of Top 20 Case Laws

The year 2024 marked a … Continue reading “[Analysis] Key Direct Tax Rulings of 2024 | A Review of Top 20 Case Laws”

Blog, News, Income Tax

December 29, 2022

Central Govt. notifies Special Court in Odisha for the purpose of Income Tax & Black Money Act

Notification No. 127/2022, dated 26-12-2022 … Continue reading “Central Govt. notifies Special Court in Odisha for the purpose of Income Tax & Black Money Act”