Income Tax

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October 3, 2022

ICDS-IV does not apply to ‘Excess Interest Spread’ receivable on securitization transactions: ITAT

Case Details: Poonawalla Fincorp Ltd. … Continue reading “ICDS-IV does not apply to ‘Excess Interest Spread’ receivable on securitization transactions: ITAT”

News, Blog, Income Tax

October 1, 2022

Govt. increases interest rates for a few small saving schemes for 3rd quarter of FY 2022-23

Office Memorandum F.no. 1/4/2019-NS, dated … Continue reading “Govt. increases interest rates for a few small saving schemes for 3rd quarter of FY 2022-23”

Blog, News, Income Tax

October 1, 2022

Premature closure clause won’t trigger on account of death of holder of ‘Senior Citizens Savings Scheme’: FinMin

Press Release, dated 29-09-2022 The … Continue reading “Premature closure clause won’t trigger on account of death of holder of ‘Senior Citizens Savings Scheme’: FinMin”

News, Blog, Income Tax

September 30, 2022

CBDT notifies Form 69 for making application for recomputation of income

Notification no. 111/2022, dated 28-09-2022 … Continue reading “CBDT notifies Form 69 for making application for recomputation of income”

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September 30, 2022

CBDT specifies manner for constitution of collegium to decide deferment of appeals u/s 158AB

Order F.no. 370133/13/2022-TPL, dated 28-09-2022 … Continue reading “CBDT specifies manner for constitution of collegium to decide deferment of appeals u/s 158AB”

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September 29, 2022

No provision allows AO to retain documents of title as security for any tax liability that may arise in future: HC

Case Details: Muthukoya T. v. … Continue reading “No provision allows AO to retain documents of title as security for any tax liability that may arise in future: HC”

Blog, News, Income Tax

September 28, 2022

Assessee can’t insist for physical hearing as same isn’t permissible under faceless assessment scheme: HC

Case Details: Gurumukh Ahuja v. … Continue reading “Assessee can’t insist for physical hearing as same isn’t permissible under faceless assessment scheme: HC”

Blog, News, Income Tax

September 28, 2022

Due date to file modified return extended to 31-03-23: CBDT

Order F NO. 370142/4I12022-T, dated … Continue reading “Due date to file modified return extended to 31-03-23: CBDT”

News, Blog, Income Tax

September 27, 2022

Sec. 263 revision justified as AO passed order without examining financial statements: ITAT

Case Details: L.A. Developers v. … Continue reading “Sec. 263 revision justified as AO passed order without examining financial statements: ITAT”

Blog, News, Income Tax

September 27, 2022

Investment in penny stock can’t be termed as bogus investment: HC

Case Details: PCIT v. Jagat … Continue reading “Investment in penny stock can’t be termed as bogus investment: HC”