Income Tax

Blog, News, Income Tax

August 27, 2022

Sum paid to party allowable as bad debts only if it was lent in ordinary course of money lending business: SC

Case Details: PCIT v. Khyati … Continue reading “Sum paid to party allowable as bad debts only if it was lent in ordinary course of money lending business: SC”

Blog, News, Income Tax

August 27, 2022

[Opinion] Section 194R – A Jigsaw Puzzle

Sachin Garg & Sidharth Sipani … Continue reading “[Opinion] Section 194R – A Jigsaw Puzzle”

Blog, News, Income Tax

August 26, 2022

Trust can’t use remaining income in any manner if it had spent 85% of receipts for charitable purposes: ITAT

Case Details: Indian Golf Union … Continue reading “Trust can’t use remaining income in any manner if it had spent 85% of receipts for charitable purposes: ITAT”

News, Blog, Income Tax

August 26, 2022

CBDT notifies ‘Andhra Pradesh Pollution Control Board’ for exemption u/s 10(46)

Notification 103/2022, dated 24-08-2022 The … Continue reading “CBDT notifies ‘Andhra Pradesh Pollution Control Board’ for exemption u/s 10(46)”

Blog, News, Income Tax

August 25, 2022

Income Tax department conducts search operations in Gujarat

Press Release, dated 23-08-2022 The … Continue reading “Income Tax department conducts search operations in Gujarat”

Blog, News, Income Tax

August 25, 2022

2016 Amendment to Benami Act can’t be applied retroactively: Apex Court

Case Details: Union of India … Continue reading “2016 Amendment to Benami Act can’t be applied retroactively: Apex Court”

Blog, News, Income Tax

August 24, 2022

CBDT amends Rule 17CB to replace ‘trust or institution’ with ‘specified person’ to incorporate FA 2022 amendment

Notification no. 101/2022, dated 22-08-2022 … Continue reading “CBDT amends Rule 17CB to replace ‘trust or institution’ with ‘specified person’ to incorporate FA 2022 amendment”

News, Blog, Income Tax

August 24, 2022

Employees of ‘IISc’ can’t be treated on par with Central Govt. employees for valuation of perquisite under Rule 3

Case Details: Indian Institute of … Continue reading “Employees of ‘IISc’ can’t be treated on par with Central Govt. employees for valuation of perquisite under Rule 3”

Blog, News, Income Tax

August 23, 2022

B/F business loss can be set off against short-term capital gains arising from sale of business assets: ITAT

Case Details: Infinity Infotech Parks … Continue reading “B/F business loss can be set off against short-term capital gains arising from sale of business assets: ITAT”

Blog, News, Income Tax

August 23, 2022

[Opinion] Supreme Court decision in Wipro – Whether per incuriam?

Manuj Sabharwal – [2022] 141 … Continue reading “[Opinion] Supreme Court decision in Wipro – Whether per incuriam?”