Income Tax

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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”

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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”

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September 26, 2022

[Opinion] Whether the Ratio of Kelvinator India (SC) and Lakhmani Mewal Das (SC) would be applicable to the New Reassessment Law?

Shikhar Garg – [2022] 142 … Continue reading “[Opinion] Whether the Ratio of Kelvinator India (SC) and Lakhmani Mewal Das (SC) would be applicable to the New Reassessment Law?”

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September 24, 2022

‘OLA’ isn’t liable to deduct tax u/s 194C while making payment to cab drivers: ITAT

Case Details: ANI Technologies (P.) … Continue reading “‘OLA’ isn’t liable to deduct tax u/s 194C while making payment to cab drivers: ITAT”

Blog, News, Income Tax

September 24, 2022

[Opinion] New vistas from two significant recent decisions of Apex Court

V. K. Subramani – [2022] … Continue reading “[Opinion] New vistas from two significant recent decisions of Apex Court”

Blog, News, Income Tax

September 23, 2022

ICAI releases technical guide on audit of charitable institutions u/s 12A

News, dated 22-09-2022 Section 12A … Continue reading “ICAI releases technical guide on audit of charitable institutions u/s 12A”

Blog, News, Income Tax

September 22, 2022

TDS component paid on expenses incurred is not in nature of ‘income-tax’ of assessee: ITAT

Case Details: Welkin Telecom Infra … Continue reading “TDS component paid on expenses incurred is not in nature of ‘income-tax’ of assessee: ITAT”