Income Tax

Blog, News, Income Tax

July 25, 2022

A mere suspicion that escaped income exceeds Rs. 50 lakh doesn’t empower AO to reassess after 3 years: HC

Case Details: Abdul Majeed Son … Continue reading “A mere suspicion that escaped income exceeds Rs. 50 lakh doesn’t empower AO to reassess after 3 years: HC”

Blog, News, Income Tax

July 23, 2022

CBDT notifies ‘CPPIB Credit Investments VI Inc’ for Sec. 10(23FE) exemption

Notification No. 86/2022, dated 21-07-2022 … Continue reading “CBDT notifies ‘CPPIB Credit Investments VI Inc’ for Sec. 10(23FE) exemption”

Blog, News, Income Tax

July 23, 2022

ITAT set-asides Sec. 263 revision as CIT manually issued order without DIN

Case Details: Tata Medical Centre … Continue reading “ITAT set-asides Sec. 263 revision as CIT manually issued order without DIN”

Blog, News, Income Tax

July 22, 2022

HC quashes reassessment initiated on ‘change of opinion’ under new reassessment provisions

Case Details: Seema Gupta v. … Continue reading “HC quashes reassessment initiated on ‘change of opinion’ under new reassessment provisions”

Blog, News, Income Tax

July 22, 2022

CIT(A) can’t summarily dismiss appeal on non-appearance of assessee: ITAT

Case Details: Marvel Industries Ltd. … Continue reading “CIT(A) can’t summarily dismiss appeal on non-appearance of assessee: ITAT”

Blog, News, Income Tax

July 21, 2022

Sale of property reported by ‘Mahesh Bhupathi’ in ITR doesn’t absolve buyer’s liability to deduct tax u/s 195: ITAT

Case Details: Nitesh Estates Ltd. … Continue reading “Sale of property reported by ‘Mahesh Bhupathi’ in ITR doesn’t absolve buyer’s liability to deduct tax u/s 195: ITAT”

News, Blog, Income Tax

July 21, 2022

Pr. CCIT/CCIT to admit belated applications in Form nos. 9A, 10, 10B & 10BB: CBDT

Circulars 15 TO 17 OF … Continue reading “Pr. CCIT/CCIT to admit belated applications in Form nos. 9A, 10, 10B & 10BB: CBDT”

Blog, Income Tax

July 29, 2024

[FAQs] on Capital Gains – Definitions | Rules | Exemptions

Capital Gains refer to the … Continue reading “[FAQs] on Capital Gains – Definitions | Rules | Exemptions”

Blog, News, Income Tax

July 19, 2022

CBDT mandates e-filing of certain forms, returns & statements

Notification No. 03/2022, dated 16-07-2022 … Continue reading “CBDT mandates e-filing of certain forms, returns & statements”

Blog, News, Income Tax

July 19, 2022

No notional rental income if property remained vacant due to sealing drive conducted by Govt.: ITAT

Case Details: Kamal Kumar v. … Continue reading “No notional rental income if property remained vacant due to sealing drive conducted by Govt.: ITAT”