Income Tax

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October 14, 2022

[Opinion] Analysis of Delhi HC’s ruling upholding validity of re-assessment notice for AY 2013-14

1. In respect of cases … Continue reading “[Opinion] Analysis of Delhi HC’s ruling upholding validity of re-assessment notice for AY 2013-14”

News, Blog, Income Tax

October 14, 2022

Sec. 68 additions justified as donors confirmed that they arranged gifts on receipt of commission: Madras HC

Case Details: P.R.Ganapathy v. DCIT … Continue reading “Sec. 68 additions justified as donors confirmed that they arranged gifts on receipt of commission: Madras HC”

Blog, News, Income Tax

November 14, 2022

No Equalisation levy on sum paid to ‘Google’ for Ads if target audience is located outside India: ITAT

Case Details: DCIT v. Prakash … Continue reading “No Equalisation levy on sum paid to ‘Google’ for Ads if target audience is located outside India: ITAT”

Blog, News, Income Tax

October 12, 2022

CBDT amends definition of ‘non-reporting financial institution’ for purpose of reporting under FATCA

Notification no. 112/2022, dated 07-10-2022 … Continue reading “CBDT amends definition of ‘non-reporting financial institution’ for purpose of reporting under FATCA”

News, Blog, Income Tax

October 11, 2022

External Development Charges aren’t tax, duty, cess, or fee: ITAT

Case Details: Vipul Ltd v. … Continue reading “External Development Charges aren’t tax, duty, cess, or fee: ITAT”

Blog, News, Income Tax

October 10, 2022

High Court defines ‘information’ based on which AO can initiate action u/s 148A

Case Details: Stewart Science College … Continue reading “High Court defines ‘information’ based on which AO can initiate action u/s 148A”

Blog, News, Income Tax

October 7, 2022

No ‘assessee-in-default’ due to deduction of tax at lesser rate if ‘Air India’ furnishes Form 26A: ITAT

Case Details: Air India Ltd. … Continue reading “No ‘assessee-in-default’ due to deduction of tax at lesser rate if ‘Air India’ furnishes Form 26A: ITAT”

Blog, News, Income Tax

October 7, 2022

Brought forwarded business loss to be set off even if subsequent year’s income is taxable at lower rate: ITAT

Case Details: DCIT v. Channel … Continue reading “Brought forwarded business loss to be set off even if subsequent year’s income is taxable at lower rate: ITAT”

News, Blog, Income Tax

October 6, 2022

No tax on sale of agricultural land if assessee continued to use it for agricultural operations after conversion: HC

Case Details: CIT v. M.R. … Continue reading “No tax on sale of agricultural land if assessee continued to use it for agricultural operations after conversion: HC”

Blog, News, Income Tax

October 3, 2022

Delhi HC decides date of issue of notices sent through various modes for purposes of time-barring reassessment

Case Details: Suman Jeet Agarwal … Continue reading “Delhi HC decides date of issue of notices sent through various modes for purposes of time-barring reassessment”