Income Tax

Blog, News, Income Tax

October 22, 2022

Apex Court interprets definition of ‘Charitable Purpose’ used in Sec. 2(15) for tax exemption

Case Details: ACIT(exemption) v. Ahmedabad … Continue reading “Apex Court interprets definition of ‘Charitable Purpose’ used in Sec. 2(15) for tax exemption”

Blog, News, Income Tax

October 21, 2022

‘Solely’ in Sec. 10(23C)(vi) means exclusively; Profit-oriented institutions can’t claim exemption: SC

Case Details: New Noble Educational … Continue reading “‘Solely’ in Sec. 10(23C)(vi) means exclusively; Profit-oriented institutions can’t claim exemption: SC”

Blog, News, Income Tax

October 21, 2022

[Opinion] Taxation of buyback of foreign instruments: Still awaiting clarity?

Rohith K Rangan – [2022] … Continue reading “[Opinion] Taxation of buyback of foreign instruments: Still awaiting clarity?”

Blog, News, Income Tax

October 20, 2022

[Opinion] TDS Grounded, Air India Flies Away

Meenakshi Subramaniam – [2022] 143 … Continue reading “[Opinion] TDS Grounded, Air India Flies Away”

Blog, News, Income Tax

October 19, 2022

Profits, when co. was declared as sick, can’t be set off with B/F loss or unabsorbed dep. for MAT purposes

Case Details: Kannappan Textile Mill … Continue reading “Profits, when co. was declared as sick, can’t be set off with B/F loss or unabsorbed dep. for MAT purposes”

News, Blog, Income Tax

October 19, 2022

[Opinion] Digital Transformation of Tax Administration

Pritin Kumar, Dilip Sutar & … Continue reading “[Opinion] Digital Transformation of Tax Administration”

Blog, News, Income Tax

November 17, 2022

Govt. asks for suggestions on direct & indirect taxes changes for Budget 2023-24 proposals

Notification F. no. 334/6/2022-TRU, dated … Continue reading “Govt. asks for suggestions on direct & indirect taxes changes for Budget 2023-24 proposals”

Blog, News, Income Tax

October 17, 2022

HC quashes Benami proceedings initiated against AAP’s Minister Satyendar Jain; cites SC ruling

Case Details: Jaladi Prasuna v. … Continue reading “HC quashes Benami proceedings initiated against AAP’s Minister Satyendar Jain; cites SC ruling”

Blog, News, Income Tax

October 17, 2022

AO can’t ask Start-up to submit bank statements/ITRs of reputed NR investors: ITAT

Case Details: Raw Pressery (P.) … Continue reading “AO can’t ask Start-up to submit bank statements/ITRs of reputed NR investors: ITAT”

Blog, News, Income Tax

October 15, 2022

Employee’s contribution to ESI/PF paid before filing of ITR not deductible: SC

Case Details: Checkmate Services (P.) … Continue reading “Employee’s contribution to ESI/PF paid before filing of ITR not deductible: SC”