Income Tax

News, Blog, Income Tax

November 22, 2022

[Opinion] Whether assessee is entitled to Sec. 54 deduction if investment made by date of filing of revised ITR?

Mukesh Kohli – [2022] 145 … Continue reading “[Opinion] Whether assessee is entitled to Sec. 54 deduction if investment made by date of filing of revised ITR?”

Blog, News, Income Tax

November 22, 2022

Sec. 80-IB relief not available to assessee manufacturing polyurethane foam in diff. designs for car seats: SC

Case Details: Polyflex (India) (P.) … Continue reading “Sec. 80-IB relief not available to assessee manufacturing polyurethane foam in diff. designs for car seats: SC”

Blog, News, Income Tax

November 21, 2022

Investment made in construction of new house before sale of original asset is also eligible for Sec. 54F relief: HC

Case Details: Bindu Premanandh v. … Continue reading “Investment made in construction of new house before sale of original asset is also eligible for Sec. 54F relief: HC”

Blog, News, Income Tax

November 21, 2022

Corporate trainers/management consultants may avail 44AD lower tax presumptive scheme

Gopal Nathani – [2022] 145 … Continue reading “Corporate trainers/management consultants may avail 44AD lower tax presumptive scheme”

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November 19, 2022

No deemed dividend if director deposited Co’s money in his own name to protect interest of Company: ITAT

Case Details: ACIT v. Anilkumar … Continue reading “No deemed dividend if director deposited Co’s money in his own name to protect interest of Company: ITAT”

Blog, News, Income Tax

November 18, 2022

Sufficiency or veracity of ‘reason to suspect’ in case of a search isn’t a matter to review: HC

Case Details: Chandran Somasundaram v. … Continue reading “Sufficiency or veracity of ‘reason to suspect’ in case of a search isn’t a matter to review: HC”

Blog, News, Income Tax

November 18, 2022

[Opinion] A Gift for Relatives

Meenakshi Subramaniam – [2022] 144 … Continue reading “[Opinion] A Gift for Relatives”

News, Blog, Income Tax

November 17, 2022

[Opinion] Updated Return – A Close Study

V. K. Subramani – [2022] … Continue reading “[Opinion] Updated Return – A Close Study”

Blog, News, Income Tax

November 17, 2022

Sec. 194H TDS applicable on additional sum charged by agents over & above net fare of air tickets: SC

Case Details: Singapore Airlines Ltd. … Continue reading “Sec. 194H TDS applicable on additional sum charged by agents over & above net fare of air tickets: SC”

Blog, News, Income Tax

November 16, 2022

No Sec. 69 additions in hands of director merely because Company used his PAN to purchase land: ITAT

Case Details: ITO v. Bhavin … Continue reading “No Sec. 69 additions in hands of director merely because Company used his PAN to purchase land: ITAT”