Income Tax

Blog, News, Income Tax

July 12, 2022

COA of debentures allotted in consideration of dividend to be the sum on which Co. paid DDT: ITAT

Case Details: JP Morgan Funds … Continue reading “COA of debentures allotted in consideration of dividend to be the sum on which Co. paid DDT: ITAT”

Blog, News, Income Tax

July 11, 2022

Response submitted on next working day to be considered if time-limit to file response expired on a public holiday: HC

Case Details: R N Fashion … Continue reading “Response submitted on next working day to be considered if time-limit to file response expired on a public holiday: HC”

News, Blog, Income Tax

July 8, 2022

Sec. 56(2)(viib) applies to conversion of CCDs into equity shares: ITAT

Case Details: Milk Mantra Dairy … Continue reading “Sec. 56(2)(viib) applies to conversion of CCDs into equity shares: ITAT”

Blog, News, Income Tax

July 8, 2022

CBDT notifies ‘Uttar Pradesh Electricity Regulatory Commission’ for exemption u/s 10(46)

Notification No. 79/2022, dated 06-07-2022 … Continue reading “CBDT notifies ‘Uttar Pradesh Electricity Regulatory Commission’ for exemption u/s 10(46)”

Blog, Income Tax

August 5, 2022

Guide to applicability of Section 194R to discounts, rebates, gifts, incentives & cashbacks

FAQ 1. Whether sales discount, … Continue reading “Guide to applicability of Section 194R to discounts, rebates, gifts, incentives & cashbacks”

News, Blog, Income Tax

July 6, 2022

AO can’t make ad hoc disallowance merely stating that some of exp. were supported by self-made vouchers: ITAT

Case Details: Kailas Chand Agrawal … Continue reading “AO can’t make ad hoc disallowance merely stating that some of exp. were supported by self-made vouchers: ITAT”

Blog, News, Income Tax

July 6, 2022

Tax Dept. detects undisclosed income of more than Rs. 200 crore in search conducted on coal trader

Press Release, dated 04-07-2022 The … Continue reading “Tax Dept. detects undisclosed income of more than Rs. 200 crore in search conducted on coal trader”

Blog, News, Income Tax

July 5, 2022

Personal hearing is mandatory though not requested by assessee if books of account to be examined: HC

Case Details: Vamsha Retail Ventures … Continue reading “Personal hearing is mandatory though not requested by assessee if books of account to be examined: HC”

Blog, News, Income Tax

July 4, 2022

[Opinion] Section 194R: Rocky Road ahead

Ankita Chowdhry, Kashif Ali & … Continue reading “[Opinion] Section 194R: Rocky Road ahead”

Blog, News, Income Tax

July 4, 2022

Faceless Appeal Scheme, 2021 mandating grant of personal hearing is curative amendment

Case Details: Bank of India … Continue reading “Faceless Appeal Scheme, 2021 mandating grant of personal hearing is curative amendment”