Income Tax

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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”

News, Blog, 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”

Blog, News, 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”

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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”

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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”

Blog, News, 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”