Income Tax

Blog, News, Income Tax

September 19, 2022

Delhi HC upholds validity of re-assessment notice issued within period extended by TOLA 2020

Case Details: Touchstone Holdings (P.) … Continue reading “Delhi HC upholds validity of re-assessment notice issued within period extended by TOLA 2020”

Blog, News, Income Tax

September 19, 2022

CBDT issues revised guidelines for Compounding of Offences under Income-tax Act

Letter F.No. 285/08/2014-IT(lnv.V)/ 196, dated … Continue reading “CBDT issues revised guidelines for Compounding of Offences under Income-tax Act”

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September 17, 2022

[Opinion] ITAT explains concept of expenditure allowable u/s 48(i) of the Income-tax Act

S. Krishnan – [2022] 142 … Continue reading “[Opinion] ITAT explains concept of expenditure allowable u/s 48(i) of the Income-tax Act”

News, Blog, Income Tax

September 17, 2022

Benefit of CBDT’s Instruction No. 1916 available towards jewellery of wife’s mother found at residence of husband: ITAT

Case Details: Muppavarapu Kavitha v. … Continue reading “Benefit of CBDT’s Instruction No. 1916 available towards jewellery of wife’s mother found at residence of husband: ITAT”

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September 16, 2022

CBDT notifies revised Form to be furnished by producers of cinematograph films

Notification No. 109/2022, dated 14-09-2022 … Continue reading “CBDT notifies revised Form to be furnished by producers of cinematograph films”

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September 16, 2022

Waiver of principal amount of loan borrowed couldn’t be treated as income within meaning of section 2(24): ITAT

Case Details: ITO v. Kaptronics … Continue reading “Waiver of principal amount of loan borrowed couldn’t be treated as income within meaning of section 2(24): ITAT”

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September 15, 2022

CBDT issues additional guidelines on deduction of tax at source u/s 194R

Circular No 18 of 2022, … Continue reading “CBDT issues additional guidelines on deduction of tax at source u/s 194R”

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September 15, 2022

[Opinion] Controversy regarding withholding tax on reimbursement of salary of seconded employees

V. K. Subramani – [2022] … Continue reading “[Opinion] Controversy regarding withholding tax on reimbursement of salary of seconded employees”

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September 14, 2022

No penalty for misreporting of income if AO & assessee used same details to arrive at different conclusions: HC

Case Details: Prem Brothers Infrastructure … Continue reading “No penalty for misreporting of income if AO & assessee used same details to arrive at different conclusions: HC”

Blog, News, Income Tax

September 14, 2022

SC admits SLP filed against Madras HC’s decision quashing prosecution launched against Karti Chidambaram

Case Details: Deputy Director of … Continue reading “SC admits SLP filed against Madras HC’s decision quashing prosecution launched against Karti Chidambaram”