Income Tax

Blog, News, Income Tax

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”

Blog, News, Income Tax

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”

Blog, News, Income Tax

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”

Blog, News, Income Tax

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”

News, Blog, 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”

Blog, News, Income Tax

September 13, 2022

Sec. 56(2)(viib) applicable only when issue & receipt of share consideration is in same AY: ITAT

Case Details: DCIT v. Rankin … Continue reading “Sec. 56(2)(viib) applicable only when issue & receipt of share consideration is in same AY: ITAT”

Blog, News, Income Tax

September 13, 2022

Gross Direct Tax collections for FY 2022-23 increased by 35.46%: CBDT

Press Release, dated 09-09-2022 The … Continue reading “Gross Direct Tax collections for FY 2022-23 increased by 35.46%: CBDT”

Blog, News, Income Tax

September 12, 2022

Service tax shall not be included in gross receipts of a foreign airline for computing presumptive income

Case Details: Cathay Pacific Airways … Continue reading “Service tax shall not be included in gross receipts of a foreign airline for computing presumptive income”

News, Blog, Income Tax

September 12, 2022

[Opinion] A Gift of Deduction for Pharmaceutical Companies

Nidhi Pathak & Aditya Vyas … Continue reading “[Opinion] A Gift of Deduction for Pharmaceutical Companies”

Blog, News, Income Tax

September 9, 2022

No question of law arises if ITAT held that gain on sale of agricultural land was taxable as business income: SC

Case Details: Sunil Bansal v. … Continue reading “No question of law arises if ITAT held that gain on sale of agricultural land was taxable as business income: SC”